Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization announced today that TCS BaNCS’ innovation hub ‘Alpha Bank’ received the award for The Best Innovation Centre by a Non-Financial Services Institution at The Asian Banker Financial Technology Innovation Awards 2018. The awards ceremony was held in Beijing, China, in conjunction with the prestigious ‘Future of Finance Summit 2018’, the foremost annual meeting for decision-makers in the financial services industry in the Asia Pacific region.The TCS BaNCS Alpha Bank, located in Bangalore, was created to understand and help transform how banks operate with geographically spread customer data, running a diverse array of real world transactions and capturing information in real-time.
In addition to serving as an incubation hub, it showcases solutions that have been designed using machine learning, augmented & virtual reality and APification. Since its launch, the Alpha Bank has executed hundreds of demonstrations to top decision makers from FSis of all sizes and stripes from around the globe seeking the latest innovations.”This is a concerted and concrete effort to lead in innovation, by forging together an ideation lab and a model bank, thereby accelerating the process of moving concepts to our solutions, and in turn to our customers.
TCS BaNCS Alpha Bank enables our customers to tackle their most pressing technology, operations and customer challenges with state of the art solutions and optimized processes,” said R. Vivekanand, Vice President and CoHead of TCS Financial Solutions. “When Banks visualize their business in this setting, it brings alive our vision of delivering Business 4.0 in the next generation of TCS BaNCS.”The TCS BaNCS Alpha Bank operates on a unique ‘model bank’ concept with simulated customer transactions conducted daily, which are then used as a premise to design, develop and test solutions that are personalized and contextual to the end user.
TCS has applied a methodical approach based on capabilities like Artificial Intelligence, Machine Learning and other proximate solutions. The Alpha Bank has designed and developed conversational AI chatbot solutions for banks, location-based tools, self-banking kiosks (for frictionless, seamless and secure transactions), and a virtual store that can enable banks to leverage the power of ecosystems and launch marketplace solutions, OCR (Optical Character Recognition) and voice verification banking, multi-touch and gesture-based solutions, and seamless biometric device integration.Shares of TATA CONSULTANCY SERVICES LTD.
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