July 17, 2017
Zions Bancorporation goes live on TCS BaNCS core banking software
Salt Lake City | Mumbai: Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation, announced today that Zions Bancorporation has gone live on TCS BaNCS for core banking with the successful transition of Zions Bancorporation’s consumer lending business over to the TCS BaNCS platform, a major milestone in the North American Banking industry’s march towards modernisation.
Zions Bancorporation selected TCS BaNCS after an extensive review of the US and global core banking vendors. The core transformation programme, titled FutureCore, is divided into phases and consumer lending for seven affiliate banks, which is the first phase to go live, with other phases to follow.
Scott McLean, president and COO, Zions Bancorporation, said, “The completion of this consumer lending installation represents our first step toward having a fully integrated core loan and deposit system. This project has served as an impetus for us to address customer and employee frustration points, simplify and de-risk how we do business, and make us more agile in adapting to future digital technology, customer and regulatory expectations. Ultimately, having a simplified back office and providing significantly greater information to our frontline bankers has a meaningful impact to customers. This core transformation initiative is foundational to our digital transformation objectives: to improve the customer experience, digitise and streamline operations, and better leverage our data assets to better serve our customers”.
Ashvini Saxena, head, Americas for TCS BaNCS, said, “The successful deployment of TCS BaNCS at Zions is testimony to the commitment from both Zions and TCS to make this happen. It’s a significant landmark not just for TCS and for Zions, but for the banking industry in North America. The TCS BaNCS deployment provides Zions a parameterised, US market-compliant, real-time solution, sets up Zions to go digital, be nimble and efficient, and shift to a customer-centric approach”.
Commenting on the go-live, Joe Reilly, chief technology strategist, Zions Bancorporation, said “TCS’s experience in large programme delivery has been demonstrated extensively throughout the FutureCore programme. We selected TCS because of the TCS BaNCS product’s rich functionality, their extensive track record of successful implementations around the world, and their focus and flexibility in ensuring that our programme is a success and really stands out”.