TCS: Pioneering Digital Transformation in Banking
Tata Consultancy Services is an IT services, consulting and business solutions organisation that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years.
A part of the Tata Group, India's largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 55 countries.
TCS has partnered with several organisations over the years, notably Lloyds Banking Group. For 17 years, both companies have had a trusted partnership, with TCS being an integral part of delivering significant milestones with Lloyds, including integration, divestment, transformation and data modernisation.
“TCS has a very mature partnership, built on the foundation of trust, innovation and value, which makes us meet the business objectives of Lloyds very consistently,” explains Rajesh Ganesan, Global Client Partner, BFSI, at TCS.
Adapting to a changing market
Lloyds Banking Group is leading the largest transformation in the UK financial services sector, and TCS has proactively adapted and evolved to support this ambitious journey.
“We’re working collaboratively with their Insurance, Pensions and Investments (IP&I) business,” Rajesh says. “We have already delivered a number of transformational and modernisation initiatives together in this journey.”
Lloyds is positioned as one of the only UK-based financial institutions that offers both banking and insurance products. Recognising its immense potential, the Lloyds IP&I division is committed to a bold digital transformation aimed at better serving our customers’ evolving needs.
“Our partnership has helped streamline their operational processes and improve service delivery,” Rajesh notes. “This modernisation is helping to simplify the complex processes, increasing efficiency and reducing operational cost.”
Setting a digital transformation agenda
TCS is currently helping Lloyds Banking Group to modernise its APIs, which will create more opportunity for seamless customer engagement and continued innovation.
“In today's world of digital transformation, many of our clients face immense pressure in their ability to achieve speed to market, innovate and also maintain the required security measures,” Rajesh explains.
Working collaboratively, TCS and Lloyds Banking Group established the IP&I Centre of Excellence for Cloud which has been instrumental in enabling cloud adoption at scale.
“We had the privilege of being a part of this cloud adoption journey since inception and it was indeed a goosebump moment for us when the first IP&I application was successfully deployed in public cloud (GCP),” Rajesh explains.
Bridging the digital finance gap
TCS is proud to be part of Lloyds Banking Group’s transformation journey, where shaping the digital engagement channels will take the customer digital experience to the next level.
“We have been very keen on bringing these investments to some of our prestigious clients, including Lloyds,” Rajesh says. “Lloyds has a stated ambition of transforming itself to a data-driven organisation and TCS has delved into the IP&I data strategy, to support a transformative data handling approach within LBG IP&I data estate.
“Bringing the right data sets into the public cloud and also building analytics on top of it using AI and machine learning can help create a personalised customer experience and unlock the real value of data to even better serve customer needs.”
Read the full Lloyds Banking Group report HERE
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