Head Office: : 1 World Financial Center 21st Floor, New York, NY, 10281-1003, United States Tel: +1 212 313 6800 Email: tcs.bancs@tcs.com Website: www.tcs.com/bancs Contact: Dennis Roman, chief marketing officer, TCS Financial Solutions Tel: 954 423 3560. Email: dennis.roman@tcs.com Founded: TCS in 1968. TCS Financial Solutions in 2007 Ownership: TCS is part of the Tata Group. TCS floated in August 2004 on the Mumbai and National Stock Exchanges. TCS Financial Solutions was set up as a strategic business unit of TCS Number of staff: TCS employs 300,000+ staff, 4200 in TCS Financial Solutions


US activities and Zions Bancorporation


In 2011, a particular US focus became apparent. First, TCS was evaluating a partner to host Bancs for the North American market. Although an agreement had not been signed by this stage, the vendor claimed pilot work was under way and there were plans for the implementation of a complete cloud infrastructure. The partner turned out to be Savvis, a provider of cloud infrastructure and hosted IT solutions. The full core banking suite would be targeted at small and medium-sized banks, with the top-tier, which (it was thought) had little appetite at present to embark on full core system transformation, offered ‘specific component-based solutions’, such as for payments, corporate actions, AML and brokerage. There was already one new name taker of the offering, claimed Ashvini Saxena, head of TCS Financial Solutions in the Americas, although its identity was confidential as the deal was still being finalised. This was not a full core banking system deployment but rather of ‘a number of key banking components’, he added. However, no further details or announcements regarding this taker have transpired. In addition, Version 12 of Bancs was also to focus on meeting


US regulations. ‘We want to be able to completely demonstrate that we are US-ready,’ said R Vivekanand, TCS’s head of product delivery. Other product developments within the new version included an IFRS compliance engine, with functional advances in the area of securities, plus a number of smaller enhancements and architectural changes to improve Bancs’ multi-currency capabilities and suitability for the hosting model. A new channels solution was also in the offing and planned developments for 2012 were thought to include second and third phases for the IFRS engine, as well as enhancements in the areas of leasing, hire- purchase and dealer finance.


By 2012, TCS seemed to start to harvest the benefits


of its recent US focus. Utah-based Zions Bancorporation provided a large, long-awaited core banking deal in the country, with TCS selected versus Infosys and Open Solutions (now Fiserv). With $53 billion in assets, Zions was seeking to replace the old TriSyn system and was looking for Bancs to provide retail and corporate banking support not only for itself but also its eight subsidiaries (California Bank & Trust, Nevada State Bank and Vectra Bank Colorado among them). As other mid to large tier US banks that have also gone beyond the tried and tested have typically not had a happy outcome, this was set to be a vital project in terms of the vendor’s US ambitions. TCS finally went public on the project at Zions in late 2013, to coincide with the BAI Retail Delivery event in November. The project was now at the solutions analysis stage, said Saxena. There were around 20 people from TCS onsite. The business requirements for the lending activities of Zions were completed. The roll-out was divided into three main stages, starting with commercial lending. Retail lending would follow, and deposits would be the last to convert. The deposits side would have a significant impact on the regional operations and at the branches, observed Saxena, hence the decision to tackle it last. The project was expected to take four to five years overall. The lending part would be delivered in Q2 2014. There would be a phased roll-out to the entities, and the anticipation was that the actual deployment of the commercial lending functionality would take two to three months across the entire network, followed by the retail set within a similar timeframe. Deposits would take a bit longer, around four months. In its latest announcement of financial results (in late July 2013), Zions cautiously predicted a five to seven year timeframe, pointing out that ‘projections of duration, cost, expected savings, and


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