Israel India | Business Guibe | 2017

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As the Start-Up Nation, Israel is the place where the world
looks toward to get the latest in technology. But when Bank
Yahav in 2014, wanted the latest core banking system, it
turned to TCS (an entity of the $ 100 Billion TATA Group) for its TCS
BaNCS Core banking system. Less than three years later, the TCS
BaNCS Universal Banking platform,has provided Bank Yahav with an
advanced core-banking application landscape that is the first of its
kind in the Israeli market.The solution encompasses banking as well
as securities for the retail customer segment and is integrated into
the Israeli Banking and Securities eco system.TCS is also providing
an End to End Platform maintenance and related operations and
support as a part of its “Run the bank” services.
The programwas one of themost complex technology transformation
project sever in the banking sector, and the marked the entry of
Indian IP into the Israeli core banking industry. To top it all off ,the
transition was accomplished in what was thought to be an impossible
timetable of just two-and-a-half years and on budget.
TCS - propels an Israeli Bank to the
forefront of Banking Technology
“The successful deployment at Bank Yahav is only a reflection of
our deep commitment to the Israeli market and is an important
milestone in our journey in Israel”, said Eyal Moskal,Country Manager,
TCS, Israel. “The breadth of the solutions provided by TCS
demonstrates our capability to provide an integrated, end-to-end
offering to our customers across solutions, platforms and services,
not just for the financial sector, but for the Israeli enterprises,
as well".
From left to right: David Ben David – Chairman of Bank Yahav,
Shaul Gelbard - CEO Bank Yahav, Eyal Moskal - Country Manager TCS Israel,
Natarajan Chandrasekaran (Chandra) - Chairman of Tata
From left to right:Eyal Moskal - Country ManagerTCS Israel ,RaviViswanathan -
President of growthmarketsTCS, Moshe Kahlon - Minister of Finance Israel,Varun
Kapur - VP and Head of Middle East & Africa TCS,N Ganapathy Subramaniam
(NGS) - Chief Operating Officer and Executive Director TCS
The completion of the landmark program coincides with the
celebration of 25 years of Israel-India diplomatic relations, and Tata,
the 150-year-old giant, has been along for a good part of the ride.
The only Indian hi-tech company to build its Israeli operations from
scratch, TCS established TCS Israel in 2005, which has since served
customers including Zim,TEVA and Bank Leumi. A large part of the
workforce in these projects is locally sourced from Israel while certain
selected skilled services are provided by Indian staff.
That ride isn’t going to end any time soon, as the Bank Yahav
project lays the groundwork for TCS to increase its Israeli presence
much further.
“We began our project with Bank Yahav after TCS committed to a
significant investment to adapt the product”, said Dov Halperin,CEO
of HMS Halperin Consulting Group. “This type of commitment is
very rare for international suppliers, and, in hindsight, I can say TCS
met its commitment and provided a quality system in a timetable
we haven’t seen in the past. The partnership with TCS is strategic
for HMS and created a new standard for the financial market,
which will significantly impact financial IT in the near future”.
Venkat Srinivasan,Head - TCS Financial Solutions said: “The TCS BaNCS
Universal Banking platform supports all the needs of the Israeli market,
including banking,securities and payments,comprehensive advisory
and portfolio management services, and complies with more than
1,500 regulatory provisions and 500 interfaces to the local landscape.
We are well placed and look forward to serving the needs of other
financial institutions in the Israeli market”.
Complex Transformation program sets
stage for increased TCS involvement in
Israeli banking follow by Insurance and
capital market segments