The Banking Financial Services and Insurance (BFSI) industry has undergone a sea change.

Despite a huge un-banked population and a heavily cash-dominated culture, electronic payments in India continue to enjoy strong growth levels. A large percentage of banking transactions occurs outside bank branches. 'Anytime, Anywhere Banking' has caught up with the urban populace and new delivery channels like ATMs, POS, Internet and mobile have found acceptance. Technology is enabling banks to become financial service aggregators, providing new services to an expanding customer base through a variety of electronic delivery channels.

Acquiring Infrastructure

Our Electronic Transaction Processing (ETP) solution acquires card transactions originating from Point of Sale (POS) terminals across the country and delivers them to customer banks' central switch site through a completely secure and redundant network infrastructure created and managed by Tata Communications. The infrastructure is available in over 1500 cities and can be expanded to any bank.

Managed ATM Services

This service is targeted towards banks who need to outsource their ATM channel to an external service provider. The service encompasses end-to-end Managed ATM Services including the central switch infrastructure as well as the ATM kiosk site and managed services like site security, kiosk maintenance and cash management.

Truncation Service Bureau

The Reserve Bank of India has introduced check truncation on a pilot basis in the National Capital Region. Tata Communications' partnership with TCS aims to provide banks with a shared infrastructure to commence image clearing of checks. The offering includes image scanners, hosting of clearing house interfaces, connectivity between bank branches, clearing houses and image storage warehouses. Banks subscribing to this service need not invest in the infrastructure and may pay on a per check basis. This RBI initiative is planned as a pilot in the National Capital Region and will subsequently be made available nationally.

Banking System

The hosted core banking service is offered in partnership with Application providers and aims to provide small-sized banks in cooperative sectors with a Core Banking System without the associated capital investment and operational hassles.