India's largest software service firm Tata Consultancy Services (TCS) today announced a partnership with Savvis to offer its 'BaNCS' suite of banking products on a cloud-enabled hosted environment, in North America.
US-based Savvis sells managed hosting and co-location services and with around 50 data centres in North America, Europe and Asia, it services around 2,500 business and government customers.
As part of the agreement, the TCS BaNCS platform would be hosted on Savvis' enterprise-class infrastructure, including solutions for core banking, payments and anti-money laundering (AML,) corporate actions and insurance, according to a statement by the company.
The software company is already offering TCS BaNCS-based hosted platforms in Europe and other parts of the world.
A clear trend of growing interest in financial institutions seeking managed service offerings is now evident, say analysts.
''Our partnership is a compelling offering for banks, brokerages and insurance companies, who can free themselves from the IT infrastructure and application management complexities, tap into our Software-as-a-Service (SaaS) model and gain greater operating efficiencies,'' PTI quoted TCS president, financial solutions, N Ganapathy Subramaniam as saying.