TCS rises on bagging deal from Central Bank in US for TCS BaNCS
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Tata Consultancy Services is currently trading at Rs. 3990.10, up by 12.55 points or 0.32% from its previous closing of Rs. 3977.55 on the BSE.
The scrip opened at Rs. 3986.00 and has touched a high and low of Rs. 4018.00 and Rs. 3982.15 respectively. So far 42866 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4254.45 on 18-Mar-2024 and a 52 week low of Rs. 3070.30 on 17-Apr-2023.
Last one week high and low of the scrip stood at Rs. 4254.45 and Rs. 3965.90 respectively. The current market cap of the company is Rs. 1441862.15 crore.
The promoters holding in the company stood at 72.41%, while Institutions and Non-Institutions held 22.54% and 5.03% respectively.
Tata Consultancy Services (TCS) has been selected by Central Bank, a leading Midwest regional bank, to use TCS BaNCS to update its core technology infrastructure, drive innovation, and strengthen customer relationships. Central Bank’s strategic partnership with TCS aims to create frictionless and flexible customer onboarding processes, enabling continued growth for the bank. Central Bank manages more than $20 billion in assets serving more than 150 locations in 78 communities throughout Missouri, Kansas, Illinois, and Oklahoma.
The bank’s decision to deploy TCS BaNCS underscores its commitment to embracing advanced technology to simplify operations and enhance customer experiences. The bank will harness the full potential of TCS BaNCS’ API ecosystem, fostering interconnectedness across applications, services, and platforms. This will enhance the Central Bank’s customer acquisition process and improve employee productivity. With real-time processing, the bank’s employees will gain a holistic view of its customer relationships and create and deploy differentiated products rapidly.
The solution will come pre-integrated with TCS BaNCS for Payments, an ISO 20022-ready solution, enabling the Bank to offer FedNow services and RTP by The Clearing House. The online account opening module of TCS BaNCS will optimize Central Bank’s customer acquisition processes, improve productivity, and help them gain real-time insights into customer relationships. It will also accelerate the process for the Central Bank to create and deploy products that meet its customers’ evolving needs.
TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.
