Tata Consultancy Services (TCS) said that Sweden’s Länsförsäkringar Bank has selected its TCS BaNCS platform as the engine to power its future growth and transformation. TCS will also provide system integration and support services to ensure a smooth transition for the bank’s current environment.
Länsförsäkringar is a customer-owned bank formed in 1991, with a strong local presence. It has grown to be the fifth largest retail bank in Sweden and has most satisfied retail customers according to Swedish Quality Index (SKI). It is also a leader in digital banking services and recently won awards for Sweden’s best mobile bank, best app and mobile site.
“In our evaluation, we found TCS BaNCS to be a superior solution that is very well capable of supporting our ambition of being a digital market leader,” said Rikard Josefson, chief executive officer (CEO), Länsförsäkringar Bank.
“The Nordic market has been on the forefront of digital adoption driven by rich customer experience and hyper-connected local market infrastructure,” added Amit Bajaj, head, North Europe, TCS. “Our partnership with a digital leader like Länsförsäkringar Bank will create a new standard in a highly advanced Nordic market and serve as an inspiration.”
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
Technology will drive the innovation in banking: Damian Richardson, head of payments strategy & innovation at NatWest
At this year's Sibos conference in Toronto, digital finance reporter, Alara Basul, sat down with Damian Richardson, head of payments strategy and innovation at NatWest to discuss how technology is driving innovation in banking.