Janata Sahakari Bank selects TCS BaNCS for core banking upgrade

By Puja Sharma

TCS will deploy its award-winning banking product suite to provide a modern, integrated, and scalable banking platform, enabling faster time to market, enhanced customer experience, and building an extensive digital ecosystem

Janata Sahakari Bank Pune has selected the TCS BaNCS™ Global Banking Platform to modernise its core and digital banking landscape, enhance efficiencies and provide a superior experience to its customers. Tata Consultancy Services, a global leader in IT services, consulting, and business solutions, will create a seamless, omnichannel banking experience for the Bank’s customers across web, mobile, and offline touchpoints, supported by TCS BaNCS’ modernised core and digital channels.

Empowered by the TCS BaNCS Global Banking Platform, JSBL Pune will initiate a strategic transformation towards a new-age core and digital banking solution that includes core banking, payments, trade finance, and AML/KYC-related compliance capabilities. It aims to accelerate growth, enhance omnichannel customer experiences, and expand its footprint in the market, while improving enterprise performance, credit quality and risk controls. Additionally, this transformation will enable the Bank to comply with evolving Reserve Bank of India regulations and guidelines across areas such as credit risk, digital banking, cybersecurity, and customer protection.

JSBL is a Pune-based co-operative bank with a wide footprint across the country. Like other urban Indian co-operative Banks, JSBL Pune offers customer-centric financial services such as savings accounts, innovative deposit services, lines of credit & loans, and digital services to local and semi-urban businesses and individuals. The Bank stands at the forefront of transforming its services using digital technology and offering new products and services to its customers.

Jagdish P. Kashyap, CEO, JSBL Pune, said, “At Janata Sahakari Bank, our commitment has always been to deliver superior banking experiences to our customers, while serving their specific financial needs. By partnering with TCS BaNCS for our digital core transformation, we are taking a significant step forward in providing seamless, innovative, and customer-centric banking services. This transformation will empower our customers with faster, more intuitive digital solutions, ensuring that their needs remain at the heart of everything we do.”

Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, “We are delighted at this partnership with Janata Sahakari Bank and extend our commitment to providing modern and secure banking solutions to the urban co-operative banking sector in India. We are happy to bring to JSB a future ready solution which incorporates some of the unique needs of this segment while also bringing in the best global practices and processes to help enhance JSBL’s position in the market with respect to customer experience, regulatory compliance and product innovation.”