Venkateshwaran Srinivasan

Tata Consultancy Services has announced that US-based Zions Corporation has completed its core transformation phase with the deployment of TCS BaNCS Core Banking solution for its commercial, industrial, and real estate lending businesses.

Scott McLean, President and COO, Zions Bancorporation, said, “With TCS BaNCS, we have been able to retire multiple core legacy systems and provide a unified, customer-centric view of information and transactions across our affiliate banks, while also retaining their individual branding. The centralization of our operations on TCS BaNCS is helping us enhance customer and employee experience and leverage data for insightful analytics and intelligent decision-making.”

The integration of Zions’ lending operations on TCS BaNCS is expected to assist the former in becoming customer-centric, increase its scalability, simplify its IT landscape and in replacing its legacy deposits and teller platforms.

Venkateshwaran Srinivasan, Vice President and Head, TCS Financial Solutions said, “TCS BaNCS will establish a strong foundation for a more agile business at Zions, empower their digital initiatives and significantly improve customer service and data quality. As part of TCS’ Business 4.0TM vision, TCS BaNCS has been enabling customers who are looking to deploy API enabled solutions with real-time transaction processing and data accessibility to enable a digital enterprise. There are several institutions grappling with the constraints of a legacy platform and the ongoing transformation at Zions should be of interest to them.”

Established in 1955, Zions Bancorporation is a bank holding company headquartered in Salt Lake City, Utah. Previously, Zions has replaced its legacy system with the help of TCS BaNCS. The new legacy system has been customized for each of Zions’ affiliate community banks. Zions’ had also deployed TCS BaNCS for its retail loans portfolio transformation.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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