TCS & Diligenta Complete Landmark Migration for 3.8 mn Scottish Widows Customers
TCS has implemented the Next-gen TCS BaNCS Wealth administration platform that caters to the UK marke
Tata Consultancy Services (TCS) has 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.
“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,” Donald MacKechnie, Chief Operating Officer, and Managing Director, Longstanding, Scottish Widows said.
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 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,” R Vivekanand, President, Product and Platforms, TCS, said.
