TCS works with Israel FinMin to build tech for small banks

MUMBAI: Tata Consultancy ServicesNSE 0.09 % (TCS) is working with Israel’s financeNSE -0.08 % ministry to build platforms that will make technology affordable for small banks in the country, a top company executive told ET.

With the Indian IT industry undergoing a transformation, TCS has invested in developing platforms in the banking, insurance, capital markets and retail segments. “In India, we created a core banking platform and have taken it to other markets. Having developed the first one, the Ministry of Finance wanted us to set up a complete banking service bureau in Israel,” said N Ganapathy Subramaniam, Chief Operating Officer at TCS.