Banking, Financial Services and Insurance

www.tcs.com

TCS Tran$form©

From driving mass personalization to delivering exponential value to customers, banking, financial services, and insurance (BFSI) organizations are looking to accelerate their Business 4.0™ journey. Rapidly evolving customer expectations, rising operating costs, and emerging technology-enabled competitors are driving BFSI organizations to reimagine digital customer journeys, create operational efficiencies, enhance business and technology alignment, and build strategic ecosystem partnerships. Such enterprise-wide transformation initiatives require a right set of operations and technology capabilities and in-depth knowledge across the value chain.

With Tata Consultancy Services (TCS) Tran$form©, banking, financial services, and insurance organizations can drive customer-centricity and future-readiness by streamlining business processes and reimagining traditional business models. As a transformation partner to leading BFSI entities, TCS delivers significant business outcomes by combining its proven domain expertise, superior technology, and innovation levers, value thinking culture, and agile global network delivery model.

TCS Tran$form© helps BFSI organizations drive significant revenue growth by establishing them as digital leaders through the application of Business 4.0™ principles to business models and operations. With innovative technology-led solutions, a proven Machine First™ approach, and collaborative partnerships with industry-leading vendors of digital platforms, TCS helps organizations achieve digital maturity. Tran$form© empowers firms to offer exponential improvements to customer and employee experiences, harness automation, simplification, and rationalization opportunities, and build rapid proofs of concept to validate the technology and get real insights into the target state.

Overview

Banking, financial services, and insurance (BFSI) organizations are making significant investments in building digital capabilities to create a sustainable competitive edge and boost market share, given growing competition from fintech players. Such initiatives are aimed at promoting innovation and minimizing operational expenditure while increasing top-line growth. However, running large-scale transformation programs along with day-to-day operations can present business continuity challenges. Companies may face difficulties in identifying the right opportunities for customer engagement and productivity enhancement, prioritizing high-ROI projects, and building and scaling proofs of concept. Furthermore, lack of in-house digital talent and alignment between digitization roadmap and strategic business objectives may limit the success of those efforts.

Transformation of Enterprise

Business

Transformation of Business Operations

New Business/Service/Market/Products

Customer Experience

Business Outcome

Time to Market

Sustainable Growth

Innovation

New Revenue Model

New Ecosystems

Cost of Doing Business

Point of Touch/Failure

Back office Process Simplification Focus

Operational Error Reduction

Cost/Efficiency Driver

Productivity Focus

First time Right

Effort Slippage Control

SLA as health Indicator

Beneficial in Shorter time frame Provides Competitive Advantage

Enterprise Business Transformation is a continuum journey

SolutionTCS Tran$form© has the following salient features:

§ Process improvements: Simplify, rationalize, and automate business process across the value chain with streamlined business process management (BPM), robotic process automation (RPA), and next-generation cognitive technologies and platforms.

§ Digital transformation blueprint: Leverage TCS’ experiential learning from success stories, blueprint models, to build a holistic transformation approach quantifying expected business benefits and defining techniques for measuring business impact.

§ Customer experience re-design: Map customer journeys and personas to pinpoint engagement gaps and adopt digital levers to drive innovation and deliver a superior omnichannel customer experience.

§ Cognitive solutions and ecosystem play: Identify, validate and jumpstart opportunities with a repertoire of prebuild components powered by built-in intelligent cognitive capability.

§ Business model transformation: Challenge traditional business models with an in-depth understanding of similar business processes executed across industries and tap into new revenue streams through cross-industry pollination and disruptive innovations.

BenefitsWith TCS Tran$form©, you can achieve the following benefits:.

§ Boost customer engagement: Enable hyper-personalized, real-time interactions and drive service quality with customers for improved responsiveness and customer satisfaction. Use predictive analytics to anticipate customer needs and reach out to them when the time is right to harness cross-selling and up-selling opportunities. USD 35 million in annual savings delivered through simplified claims processing.

§ Enhance organizational efficiency: Experience a significant increase in employee productivity with simplified business processes and integrated workflows. Enable actionable insights from diverse data sources to augment and accelerate business decision-making. About 45% improvement delivered through enhanced operational efficiency of a contact center.

§ Accelerate business growth: Reimagine front-and middle-office operations to facilitate seamless business transactions. Build close ecosystem partnerships to identify and harness new revenue streams. Deliver reduction in loan processing cost by 30% for the middle and back-office processes.

The TCS Advantage By partnering with TCS, you can leverage the following differentiators:

§ Domain expertise: TCS has over 15 years of experience in executing outcome-driven, large-scale digital transformation projects for the world’s leading BFSI organizations. We have partnered with companies to transform everything from simple data capture processes to more complex underwriting workflows and deep analytics platforms.

§ Delivery excellence: Our teams manage over 55 million transactions annually, servicing 30+ clients in more than ten countries. Leveraging our Global Network Delivery Model (GNDM™) encompassing geo-specific language capabilities and comprehensive understanding of local compliance norms, we deliver service excellence to banks and financial institutions worldwide. Our scalable and flexible engagement models across technology and operations help optimize total cost of ownership (TCO) while creating superior business value.

§ IT-BPS synergy: TCS has a rich, diverse pool of IT and operations talent, that helps us deliver complex technology-enabled, managed services to clients with efficacy and speed.

§ Advanced technology capabilities: TCS offers industry-leading expertise and proven tools for clients to drive enterprise-wide digitization and frictionless processing using data-driven and predictive analytics, ML- and AI-enabled solutions, access to fintech ecosystem, and incubator programs.

Corp

orat

e M

arke

ting

| Des

ign

Serv

ices

| M

| 10

|20

All content / information present here is the exclusive property of Tata Consultancy Services Limited (TCS). The content / informationcontained here is correct at the time of publishing. No material from here may be copied, modified, reproduced, republished, uploaded,

transmitted, posted or distributed in any form without prior written permission from TCS. Unauthorized use of the content / informationappearing here may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties.

Copyright © 2020 Tata Consultancy Services Limited

Awards & Recognition

To know moreVisit the Banking, Financial Services and Insurance page on tcs.comEmail: bfsi.marketing@tcs.com

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery ModelTM, recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has a global footprint and is listed on the National Stock Exchange and Bombay Stock Exchange in India.

For more information, visit us at www.tcs.com

IT Services Business Solutions Consulting