Tata Consultancy Services’ RPA and Cognitive Solutions, and its Broad-based Coverage of Solutions across the Entire Banking Value Chain, were Cited as Key Strengths
NEW YORK | MUMBAI: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK MatrixTM for Banking BPO Digital Capability Platform (DCP) Services.
The report highlights TCS’ RPA solution suite that designs and captures business process automations that can be executed by software robots without manual intervention. It goes on to say that TCS’ cognitive solution ignioTM leverages machine learning, NLP and natural language generation techniques to generate intelligent business insights. The report also says that TCS’ solutions have a broad-based coverage across the entire banking value chain and address a multitude of areas such as customer on-boarding, credit underwriting, trade finance, payments and dispute management.
“Banks are leveraging cognitive technologies to build their digital core as they move forward in their Business 4.0TM transformation journeys,” said K Krithivasan, Global Head, Banking, Financial Services and Insurance, TCS. “This recognition is a testament to our vision, differentiated capabilities in intelligent digital technologies, and high market impact.”
TCS employs its Business 4.0TM framework, aided by its Machine-First Delivery Model (MFDMTM) to facilitate automation across end-to-end business processes. It has developed a holistic transformation framework to proactively understand business requirements and identify the right solutions to meet customers’ needs. TCS embeds cognitive and digital technologies in its banking business operations services. Solutions include the following:
1) Robotic Process Automation Solution: A unique model-based approach to automation that identifies business processes which can be executed by software robots, without manual intervention.
2) Cognitive Extraction Suite: The suite contains tools that leverages advance machine learning and NLP ability for document digitization, handwriting recognition, comparison, object recognition and digital form decoding. It also comes with utilities like signature check, signature processing, comparison, and integration capabilities. The solution helps simplify customer onboarding, KYC processes, mortgage, underwriting, control testing of all banking functions and quality check functions.
3) TRAPEZETM Suite for Digitization and Automation: A BPM-based workflow and case management suite aimed at simplifying floor operations – tracking, measurement and reporting. The suite can be implemented in multiple processes, including account opening, transaction services, trade/ market monitoring, card processing and monitoring, and dispute management.
4) Decision Fabric: A next generation cognitive solution that enables the automation of complex business processes to improve efficiency, productivity and scalability. Features include an ingestion fabric, human reading mimicking, computer vision for image enhancements and analytics, audio analytics and reasoning.
5) TCS Vitellus: A web-based, ready-to-use GUI tool that delivers high-end visual analytics. The tool leverages a growing repository of basic and advanced visual representations, and is augmented by TCS’ value added services.
“As the banking industry moves to a digital-first model, banks need to bring together their investments across RPA, analytics, etc. to deliver on an integrated user experience,” Manu Agarwal, Practice Director, BFS Business Process Services, Everest Group. “TCS has a wide array of solutions across each of these layers, making it a Leader in DCP services in banking business operations.”
“TCS has been leveraging its deep industry knowledge and structured research and innovation investments to continually find new use cases in each customer’s business context to transform using automation, artificial intelligence, analytics and cloud. With these solutions and our intellectual property, we are helping our customers drive growth and transformation in their businesses,” added Krithivasan.
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