TCS partners with ABN Amro

Wednesday 18 January 2023 12:52 CET | News

TCS, an India-based multinational business group, has partnered with ABN Amro, a Netherlands-based bank, to help with its digital transformation.

ABN Amro wished to adhere to the most recent European Legislation, the Payment Services Directive (PSD2). Beyond PSD2 compliance, ABN Amro considers offering up more beneficial application programming interfaces (APIs) and utilising those of others. The objective was to establish a cloud-based Open Banking platform to accelerate, create experiences outside of banking, explore new business models, and jointly reinvent finance.

TCS, an India-based multinational business group, partners with ABN Amro, a Netherlands-based bank, to help with its digital transformation.

The first step of the endeavor was selecting the most suitable API management solution. The bank therefore made the decision to create a Developer Portal that gives outside devs everything they need to access its APIs safely and effectively. The website offers a variety of APIs for commercial clients. As a result, ABN Amro is one of the first significant Dutch banks to offer access to a Developer Portal and particularly invite the public to collaborate with it on its innovations. ABN Amro is extending more services as APIs and exposing them on the Developer Portal in the upcoming phase to boost API adoption.

ABN Ambro ABF’s goal of sustainability

Together, ABN AMRO ABF and Tata Consultancy Services (TCS) are using the Innovation Ecosystem to lay the groundwork for a robust, digital-first company.

TCS provided digital solutions alongside ABN AMRO ABF to aid in process standardisation and adapt the company for the cloud technology. ABN AMRO ABF was able to introduce products for their small and medium-sized enterprises (SMEs) more quickly and without any business disruption because to TCS's Digital Twin Technology.

By embracing DevOps to increase the bank's speed to market for its new solutions and continuing to use TCS' Location Independent Agile approach, which improves communication between business and IT, lowers risks, and helps provide better customer experiences, the expanded cooperation further accelerates ABN AMRO's journey toward digital transformation. By rationalising the technology stack, re-architecting critical systems using microservices and APIs, adopting cloud-native architectures as the standard for new system development, and migrating workloads to a public cloud, TCS further assists the bank in reducing its technology debt and creating a scalable, future-proof IT core.

ABN Ambro’s previous partnerships

It appears that partnerships have dominated ABN Ambro's year. It began working with Gimi in April 2022 to help educate young users about personal finance and give them a secure platform to manage their bank accounts. The bank's young customers can simply manage their money through their connected bank account using Open Banking thanks to the co-branded app, which was developed in 90 days.

Besides, to support client growth and company expansion on the Temenos Banking Cloud, the bank and Temenos agreed to a multi-year subscription extension. Since implementing Temenos Continuous Deployment in 2019, ABN AMRO Bank has been able to move toward a 'code in the morning, deploy in the afternoon' methodology by cutting the time it takes to configure, test, and deploy software change from weeks to days.

Finally, ABN AMRO and bicycle-as-a-service provider Swapfiets have partnered to introduce features that integrates payment and identity identification in November 2022.

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Keywords: partnership, product launch, Open Banking, banks, PSD2
Categories: Banking & Fintech
Companies: ABN AMRO, TCS
Countries: Netherlands
This article is part of category

Banking & Fintech




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