Tata Consultancy Services Ltd.

Tata Consultancy Services (TCS) has launched a new transformative Digital Bank Guarantee platform, powered by the Quartz Blockchain solution, as part of the Banking Service Bureau (BSB), operated by TCS for the digital banking industry in Israel. Bank Hapoalim, Israel’s largest bank that currently manages more than 30% of the total bank guarantees in the country, has signed up as the anchor customer for the platform.

The company’s Digital Bank Guarantee SaaS platform runs on Microsoft Azure and helps banks digitally transform the end-to-end lifecycle of guarantees, including issuance, modification, termination, and invocation. Support for open APIs defined by various beneficiaries – such as government entities, corporates, SMEs and individuals - enables seamless sharing of data with them, eliminating the need for separate individual interfaces. The use of hyper-automation will help banks improve speed of execution, reduce fraud and manual errors, and enhance transparency, security, and data privacy.

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.