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TCS BaNCS’ solution to accelerate adoption of real-time payments in Canada

R Vivekanand, Co-Head, TCS Financial Solutions

TCS has announced the launch of TCS BaNCS for Payments solution in Canada in order to encourage banks and financial institutions to accelerate the adoption of Payments Canada‘s Modernization initiatives. The initiative aims to facilitate competitiveness and delivery of next-generation payments experience.

“We are extending our globally proven TCS BaNCS for Payments solution to financial institutions in Canada and reinforcing the pivotal role we play in their ongoing transformation journeys, aligned with the Payments Canada Modernization. Our investments in staying ahead of the curve, in adopting new standards like ISO 20022 or leveraging industry innovation like SWIFT gpi, clubbed with our infrastructure initiatives, makes us key enablers of growth and transformation,” said R Vivekanand, Co-Head, TCS Financial Solutions.

According to the supplier, TCS aims to assist the Canadian markets in the adoption of real-time payments, leverage payment overlay services and comply with Canadian banking and data privacy regulations simultaneously. It is a SWIFT gpi Ready certified solution and offers unified monitoring of operations, integrated Management Information Systems (MIS), payments analytics, real-time visibility for cross-rail limits, and integrated liquidity, AML and fraud monitoring.

“Canadian enterprises are looking for greater agility and flexibility to cater to their customer needs in the evolving payments space by exploiting newer payment rails and overlay payment services. TCS has been investing in building cloud-based payments solutions and an Agile-ready workforce to cater to the evolving future needs of the banking sector and the Canadian industry at large,” said Soumen Roy, Country Head, TCS Canada.

Recently, TCS BaNCS‘ Digital Platform for Banking and Trading has been selected by Israel based Yahav Bank to deliver a consistent and better customer experience across channels.

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