Tata Consultancy Services (TCS) has launched a Digital Software & Solutions Group (DS&S), a new business unit offering licensed modular software solutions to businesses within banking and financial services. The vendor believes banks’ need for digital transformation and enhanced customer service support can be met on a Software-as-a-Service (SaaS) basis, with added integration support.
The launch of DS&S is in response to technology disruption trends such as the rise of the mobile channel, big data analytics, cloud computing, which the vendor believes, coupled with globalisation, have created a need for banks to update their IT architectures and service offerings to cope with new customer and business demands. It will have to win enough contracts to prove its supposition and the DS&S will initially offer customer intelligence capabilities and digital commerce solutions on a flexible modular basis that can be scaled upon demand, in order to do so.
TCS estimates that the total addressable market in what it terms the digital transformation space will be worth $158bn by 2015, including non-banking sectors such as retail that it also intends to target.
The DS&S Group is launching initially in the US, UK and Nordics and will be headed up by Seeta Hariharan, general manager and now group head of TCS' new DS&S unit.
“Digital Software & Solutions allows customers to select solutions and engagement models that best fit their needs, whether it’s a software module that addresses a particular business pain point, a fully integrated solution that transforms a business function, or a digital transformation engagement,” said Hariharan, when discussing the rationale behind the launch of the new business unit. “The solutions are backed by TCS’ deep domain capability and delivery expertise.”