TCS subsidiary Diligenta completes Life and Pensions Data and Business Process Migration for over 3.8 million Scottish Widows’ policyholders
Tata Consultancy Services , a global leader in IT services, consulting, and business solutions, today announced that it has completed the migration of Scottish Widows’ life and pension heritage book onto its TCS BaNCS™ administration platform managed by Diligenta, a leading life and pensions provider in the United Kingdom, and a subsidiary of TCS.
Diligenta has migrated the final tranche of data relating to more than 900,000 customers. With this migration, Diligenta has completed the Life and Pension migrations covering over 3.8 million customers of Scottish Widows on the TCS BaNCS™ Platform and digital ecosystem.
Additionally, TCS has implemented the Next-gen TCS BaNCS Wealth administration platform that caters to the UK market. It has successfully completed the migration of 980,000 retail customers’ portfolios. TCS’ next-gen platform will support servicing existing Individual Savings Accounts/Open Ended Investment Company (Mutual Funds) products while enabling future digital servicing for customers.
The transformation replaced a number of legacy systems with the digitally enabled TCS BaNCS™ BFSI platform. Customers can now expect faster and simpler service from Scottish Widows.
Donald MacKechnie, Chief Operating Officer, and Managing Director, Longstanding, Scottish Widows said, “We have reached an important milestone in our transformation programme, and our ongoing relationship with Diligenta and TCS. We look forward to continuing to enhance customer experience by providing customers with better and faster service, enabled by digitisation.”
R Vivekanand, President, Product and Platforms, TCS, said, “The team has set a new benchmark following a migration of this scale. Our relationship with Scottish Widows continues to thrive, and we look forward to further enhancing what we do with them including leveraging state of the art technology developments like AI to further improve digital customer experience”.
Scottish Widows, the life and pensions arm of Lloyds Banking Group, entered into a 15-year partnership with TCS in September 2017 for a core transformation to replace multiple legacy systems with the TCS BaNCS platform, simplify the operating model, deliver a superior customer experience, and reduce risk, while providing end-to-end policy administration services to 4 million customers.
The TCS BaNCS Insurance Platform is a digitally-enabled, end-to-end policy administration platform that manages life, pensions and investment products, with over 20 million policies currently under administration in the United Kingdom. It is a complete, open architecture solution with an integrated business rules engine, encompassing policy administration, data management, integrated imaging, and workflow administration.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
