OFEK Credit Union Selects TCS' Banking Service Bureau in Israel to Power its Growth and Transformation
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced that Israel’s OFEK Credit Union (OFEK) has selected TCS’ Banking Services Bureau (BSB), powered by TCS BaNCS™, to achieve its growth and transformation goals.
More recently, OFEK obtained a formal license to supply banking services which has given further impetus to its strategic objectives.
OFEK selected TCS’ BSB powered by TCS BaNCS, to quickly launch its operations and offer innovative and contextual digital banking services.
TCS BaNCS’ market-ready banking and securities solution and rich set of APIs delivered on a SaaS model, will help OFEK connect to and integrate with the market ecosystem and build a vibrant and comprehensive digital financial offering for its customers.
Our co-operative society set forth on a journey when banking needs in the country were transforming, and recently we have received a formal license to operate in this space.
By selecting TCS’ Banking Services Bureau, we are getting closer to realizing our vision of offering innovative digital financial services in the country.
Venkateshwaran Srinivasan, Global Head, TCS Financial Solutions, said, “We are delighted to be a partner to Israel’s Ministry of Finance and help them realize their vision for the nation’s banking industry with our Banking Service Bureau.
The onboarding of OFEK is yet another milestone in this industry transformation journey, and a testimony to how TCS BaNCS and the BSB enable clients to accelerate their growth based on innovation and superior customer experience.”
This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index.
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