Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced that it has helped Bitcoin Suisse AG (BTCS) create a next-generation crypto-financial technology platform, powered by TCS BaNCS™ for Banking, supporting the latter’s journey of becoming a leading global crypto-financial services provider.
BTCS selected TCS BaNCS for its native support for digital assets and Swiss and global market readiness. The secure and scalable cloud-based solution covers all core functions like brokerage, custody, payments for crypto assets, including risk monitoring and supervision capabilities, and ensures continued regulatory compliance in Switzerland.
The solution’s high level of straight-through processing enables faster turnaround times, resulting in further enhanced client experiences. Its best-in-class configurability is helping the company design and quickly launch new products at scale related to staking, vaults, and digital asset lending. TCS BaNCS’ API-based architecture provides BTCS the flexibility to easily integrate and collaborate with trading partners and the wider crypto ecosystems.
Dr Dirk Klee, CEO, Bitcoin Suisse AG, stated, “At Bitcoin Suisse, our priority is to create value for our clients by constantly innovating and exploring new technologies, services, and products. The launch of this state-of-the-art technology platform from TCS BaNCS sets the foundation to further establish Bitcoin Suisse as a leading crypto-financial services provider. With TCS, we have teamed up with a global partner who understands crypto assets and the specific needs of this industry. This unique cooperation allows us to deliver a core part of our business model in a highly scalable and secure fashion – thereby catering especially to our rapidly growing institutional client base.”
“We are delighted to partner with Bitcoin Suisse AG in their growth and transformation journey. The TCS BaNCS solution will provide Bitcoin Suisse AG with the ability to rapidly launch innovative new products and services at scale and differentiate itself in the marketplace. With a platform that enables clients to access both digital and traditional assets securely, Bitcoin Suisse is scaling up its core business and strengthening its positioning in key growth segments. This deployment is a testimony to the leading-edge investments we have been making in TCS BaNCS to make our solutions future-ready,” said Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS.
TCS BaNCS solutions are built on the Digital First, Cloud First philosophy with the outcome being a modern platform in the banking and financial industry in a digital world. The TCS BaNCS solution comprises innovative and adaptive digital apps and a digital core richly enabled for business supporting a wide range of products and services across asset types – assets and liabilities, cash, securities, and crypto assets for a wide variety of use cases in the financial services industry. This solution accelerates the digital transformation of traditional businesses by unshackling them from the constraints of legacy technology and powering the ambition to play into the overall ecosystem powered with a rich catalogue of APIs.