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TCS Partners with Newgen for their Flagship Banking Service Bureau Project in Israel

Posted On: 2021-09-28 22:28:26 (Time Zone: IST)


Newgen Software, a global provider of low code digital transformation platform, has partnered with Tata Consultancy Services (TCS)-a leading global IT services, consulting, and business solutions organization-to deploy an enterprise-wide content repository and a multi-channel, multi-lingual communication suite for the Banking Service Bureau (BSB) in Israel.

Newgen and TCS are enabling Israel's central bank to transform the country's banking sector by building a cloud-hosted centralized platform to provide end-to-end banking solutions. BSB will leverage TCS core banking solution (TCS BaNCS™) and Newgen's digital transformation products, including contextual content services (ECM) and omnichannel customer engagement (CCM).

With Newgen's unified platform for automating content and communications, integrated with the cloud-based TCS BaNCS™, BSB can build a robust, scalable repository to securely access and manage documents throughout their lifecycle. The repository would serve as a shared, plug-and-play digital banking platform to help banks standardize communications and enhance customer experience.

Sumanta Roy, Vice President and Regional Head of TCS Middle East, Africa, Mediterranean, said, "TCS delivers on its promise to Ministry of Finance, Israel, for creating the most innovative, fully configurable and programmable Megastore of a full service BFSI platform, through its carefully selected set of partners like Newgen. This partnership has architected a highly scalable and secure platform in record time, delivering a truly digital experience to its customers."

"Our joint collaboration will help financial institutions in Israel deliver a faster, more connected, and frictionless banking experience to their customers," said Diwakar Nigam, MD and Chairman, Newgen.

Shares of Tata Consultancy Services Ltd. was last trading in BSE at Rs. 3779 as compared to the previous close of Rs. 3836.95. The total number of shares traded during the day was 101477 in over 13556 trades.

The stock hit an intraday high of Rs. 3854 and intraday low of 3752.7. The net turnover during the day was Rs. 384404590.

Shares of Newgen Software Technologies Limited was last trading in BSE at Rs. 591.15 as compared to the previous close of Rs. 587.25. The total number of shares traded during the day was 3231 in over 222 trades.

The stock hit an intraday high of Rs. 599.05 and intraday low of 572.35. The net turnover during the day was Rs. 1886301.


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