South Africa's Mercantile Bank Goes Live on TCS Bancs Platform

South Africa's Mercantile Bank Goes Live on TCS Bancs Platform
11.05.2017 08:30 am

South Africa's Mercantile Bank Goes Live on TCS Bancs Platform

Banking

Tata Consultancy Services, a leading IT services, consulting and business solutions organization, announced that Mercantile Bank Limited (MBL), South Africa, has successfully transformed its banking operations with TCS BaNCS Digital. 

With this modernization of technology, the Bank has significantly elevated customer touch points of browser, mobile and tablets into a seamless digitally immersive experience.

Mercantile Bank wanted to provide an omni-channel experience for its Small and Medium Business customers and enhance the value and services it provides. The Bank selected TCS BaNCS Digital for its hybrid architecture, responsive web design and functional richness for the market. With the solution, MBL can now deliver channel agnostic business banking, with an intuitive, interactive and instantaneous experience across multiple devices. The solution’s scalability ensures that large volumes of transactions are managed by the Bank with ease. 

TCS BaNCS Digital is designed with business aware intuitive widgets and a robust middleware platform that allows the solution to be agnostic to back-end systems. The hybrid architecture-based solution delivers retail and business banking capabilities, including several types of payments, credit cards and tax filing, and is integrated with South Africa’s national tax payments Infrastructure. The solution is also designed to deliver end users with optimized bandwidth consumption and an instantaneous touch experience. 

Karl Kumbier, Chief Executive Officer at Mercantile Bank, said, “TCS BaNCS Digital is easy to use, secure, agile, and flows intuitively, which makes it a great user experience-based banking platform. It fully integrates with private and business banking, and allows for payments directly to SARS (South African Revenue Service) via SARS E-Filing. It is designed to be simpler and rests on the three pillars of security, speed and convenience. Since the launch of our new solution, customer satisfaction of our online channel is at 86.7% for our Bank. We look forward to working with TCS in leading the South African market through digital innovation.”

Sathish Vallat, Head, TCS BaNCS Digital, said, “TCS BaNCS Digital is operational at MBL, deepening customer engagement levels through an omni-channel business banking experience. Our enterprise and consumer app strategy with hybrid architecture adoption and alignment to industry standards has enhanced business innovation while delivering value to end customers. Our partnership with a challenger Bank like MBL who focuses on building a better experience for SME banking positions us as the future solution for financial institutions who look at ‘place’ as a customer mindset rather than a geographic location. With 8 of the top 10 financial institutions being powered by TCS BaNCS in South Africa, we continue to remain the partner of choice in the region.”

Related News

Sberbank rolls out business-to-business supply chain app

Sberbank has launched a mobile app called Bank of Business Partners for Android. From now on, Android smartphone users of the ... Read more »

Shopify introduces major product launches, including Shopify Balance and Shop Pay Installments

Shopify Inc., a leading global commerce company, announced new and updated products at ... Read more »

Neobank Jingle Pay chooses W2 to power its new Super App for the Unbanked

W2, the leading provider of real-time digital solutions for global regulatory compliance, announced today that it has joined forces with neobanking group... Read more »

NatWest research: UK small businesses accelerate transition to cashless during pandemic

UK SMEs are moving to accept card and contactless payments at an increasingly rapid rate as a result of the coronavirus crisis, according to findings published today by... Read more »

Ant Group releases 2020 CSR Report: digital technology can help create a better future

Ant Financial Services Group (“Ant Group”) has released its 2020 Corporate Social Responsibility (CSR) report,... Read more »

Nearly one of three consumers is past due on at least one bill - due to COVID-19 pandemic, new ACI Worldwide research reveals

Nearly one of three consumers (27%) is past due on at least one bill and nearly 50 percent will need up to a year to catch up on bills due to the COVID-19 pandemic, according... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel