Newgen and TCS partner for Digital Transformation of Banking Service Bureau (BSB) project in Israel

Newgen Software has now partnered with the IT services provider TCS to deploy an enterprise-wide content repository and a multilingual communication suite for the Banking Service Bureau (BSB) in Israel.

TCS and Newgen are going to help Israel's central bank to digitally transform the country's banking sector by building a cloud-hosted centralized platform to offer end-to-end banking solutions.

Sumanta Roy, Vice President and Regional Head of TCS Middle East, Africa, Mediterranean, said, "TCS delivers on its promise to Ministry of Finance, Israel, for creating the most innovative, 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, delivering a truly digital experience to its customers."

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

BSB (Banking Service Bureau) will use TCS core banking solutions (TCS BaNCS) and Newgen digital transformation products, which include omnichannel customer engagement (CCM) and Contextual Content Services (ECM).

Newgen will leverage its unified platform for automating content and communications by integrating it with the TCS BaNCS. It will help in building a repository that can manage documents and serve as a shared, plug and play digital banking platform. This integration will help banks to standardize communications and enhance customer experience (CX), notes the announcement.