Newgen, TCS partner for banking service bureau project in Israel

IT company Newgen Software on Tuesday said that it has partnered with Tata Consultancy Services to deploy an enterprise-grade multi-channel, multilingual communication suite for the Banking Service Bureau (BSB) in Israel. The partnership will enable Israel's central bank to transform the country's banking sector by building a cloud-hosted centralised platform to provide end-to-end banking solutions.

"TCS delivers on its promise to the Ministry of Finance, Israel, for creating a fully configurable and programmable megastore of a full-service BFSI platform, through its carefully selected set of partners like Newgen. This partnership has architected a highly scalable and secure platform in record time," Sumanta Roy, Vice President and Regional Head of TCS Middle East, Africa, Mediterranean, said in a statement.

BSB will leverage the TCS core banking solution (TCS BaNCSTM) and Newgen's digital transformation products, including contextual content services and omnichannel customer engagement solutions.


"Our joint collaboration will help financial institutions in Israel deliver a faster, more connected, and frictionless banking experience to their customers," Diwakar Nigam, Managing Director, and chairman of Newgen said.