Tata Consultancy Services Ltd.

Tata Consultancy Services’ (TCS) customer Great Southern Bank has won the Celent Model Bank 2023 Award for Open Banking. Compliance with Consumer Data Right (CDR) Act 2019 required Great Southern Bank to invest in technology that would enable sharing of customer account information with accredited data recipients upon request and with customer consent. The bank saw this as an opportunity to go beyond compliance and extend the project to build the foundation for their strategic enterprise data platform.

To drive its Open Banking program, the bank turned to TCS, its long-standing partner of over 13 years, which currently manages its core banking platform using TCS BaNCS. Leveraging its deep contextual knowledge and technology expertise, TCS designed, built, and tested a new open Banking platform. The new platform leverages TCS BaNCS’ Open Banking APIs specifically developed for the Australian market and its knowledge and experience building similar banking and customer APIs for global clients. These APIs will enable Great Southern Bank to launch new products and services in collaboration with ecosystem partners.

TCS 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.