TCS' BaNCS platform get AI upgrade, to support operations of banks, financial firms - World News Network

Mumbai (Maharashtra) [India], December 19 (ANI): Tata Consultancy Services (TCS) has announced a major artificial intelligence (AI) upgrade to its flagship TCS BaNCS platform, launching a new AI core designed to help banks and securities firms accelerate innovation while maintaining strong governance and risk controls.
The new capability, called TCS BaNCS AI Compass, integrates machine learning, deep learning, generative AI, and pre-built intelligent agents to enable financial institutions to embed AI across core operations.
According to a company statement Friday, the solution is aimed at decision-makers overseeing technology and digital transformation in banking, securities, and wealth management businesses
The IT services company said the AI Compass has been built with a no-code, configurable interface that allows teams to quickly build, train, test, and deploy AI agents across multiple use cases. These include customer onboarding, credit underwriting, query resolution, and operational decision support. In securities services, the platform can assist with tasks such as predicting the tax treatment of payouts, identifying missing event data, and interpreting complex documents.
Jennifer Smith, Executive Vice-President and Chief Technology Officer at Zions Bancorporation, said the company sees “a strong vision” in the new offering and noted its potential to help users apply AI in practical ways that improve efficiency and risk management.
“We see a strong vision in TCS BaNCS AI Compass and are encouraged by how it could help our TCS BaNCS users apply AI in practical ways–making their work more efficient and helping manage risk more effectively,” Jennifer Smith said.
Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, described the launch as a key milestone in embedding AI across the transaction lifecycle of the BaNCS suite.
“Our primary focus is on making AI integral to TCS BaNCS, enhancing operational efficiency and helping our customers manage risk effectively while prioritising robust governance, transparency and responsible AI practices. We are committed to helping our customers shape the future of intelligent, customer-centric financial services,” Venkateshwaran Srinivasan added.
TCS emphasised that the AI Compass has been developed with built-in guardrails, audit logging, and explainable AI capabilities to ensure transparency and accountability. The platform includes systematic bias testing, traceable workflows, and strict data lineage controls, with privacy-by-design principles embedded throughout.
The integration of AI Compass into the existing TCS BaNCS suite aligns with the company’s broader vision of human-centric AI and its ambition to become a leading AI-driven services company. TCS reported consolidated revenues of over USD 30 billion for the fiscal year ended March 31, 2025.
TCS has a skilled workforce of 590,000 spread across 55 countries and 202 service delivery centres across the world. (ANI)

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