Vendor Analysis
published on Nov 29, 2019
Report Overview:
This NelsonHall assessment analyzes TCS' offerings and capabilities in Digital Bank Transformation.
Who is this Report for:
NelsonHall’s Digital Banking Services Vendor Assessment for TCS is a comprehensive assessment of TCS’s Digital Banking Services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Digital Banking Services RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Digital Banking services offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphases and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
TCS has been delivering services to the BFS since the mid-1990s. In 2008 TCS began its Digital Reimagination initiative. The digital reimagination initiative was about combining digital technologies to pursue business initiatives in a non-traditional way. At that time, digital services were about channels and mobility. TCS worked with many banking clients to establish omnichannel businesses. TCS called this “going digital.”
TCS realized the digital journey was not just about customer interaction, but also required better knowledge of customer behaviors and needs. Obtaining better knowledge required improved data collection and analysis. Implementing infrastructure and cognitive solutions to generate improved customer and business knowledge TCS calls “being digital”. TCS believes that all businesses must use a digital paradigm to be successful.
For the past 18 months, TCS has adopted its “Business 4.0” paradigm for banks. This paradigm views business as in a constant state of change, which requires a platform that can adapt and provide resources as required. The four key business features which are addressed by this change are:
- Mass personalization
- Exponential value creation (cost reduction and reduced time to market)
- Leverage of ecosystems
- Risk management
TCS’ current digital activities for banking clients use the Business 4.0 paradigm to address their business challenges.