US-based Continental Bank has selected Indian IT major Tata Consultancy Services’ (TCS) cloud banking solution to digitally transform its banking business.
The FDIC-insured commercial lender will deploy the TCS BaNCS Cloud solution to create new products and expand its footprint in larger banking and fintech ecosystem.
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The TCS BaNCS Cloud is a plug-and-play, pay-as-you-go, one-stop software-as-a-service (SaaS) solution which ensures anytime, anywhere digital access, scalability, resilience, high performance, and compliance.
It handles over 100 million transactions per month for over 200 customers, including retail banks, private banks, and credit unions in the UK, the US, Switzerland and India.
The platform will equip the Utah-based bank with a core processing solution that will power a range of commercial and small business banking products.
TCS Financial Solutions co-head R Vivekanand said: “With this new digital core, Continental Bank will be able to deepen their customer relationships, expand their addressable market, and position them well for future growth.”
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By GlobalDataContinental Bank will use the platform to unite its offerings, integrate lease applications and offer its small and medium business customers a superior banking experience.
It hopes to further expand its customer base and offer new differentiated services beyond equipment financing to its business clients.
Continental Bank CEO Nathan Morgan said: “We have selected TCS BaNCS Cloud for Banking for its comprehensive capabilities to support our commercial customer base and to provide convenient online account opening and self-service facilities to our small and medium business clients.
“With the new platform, we will be expanding our portfolio with newer lending products as well as commercial deposit products and cash management tools, to increase our traction with existing customers while catering to the needs of newer market segments.”
Continental Bank specialises in commercial equipment financing for small and medium businesses, real estate financing and a suite of deposit products.
