Axis Bank goes live on India’s first ever Enterprise Payment Hub

Tata Consultancy Services (TCS), announced that its client Axis Bank has implemented a state of the art enterprise payments hub(EPH) on a modern architecture powered by TCS BaNCS. Axis Bank’s vision was to create new levels of customer service by delivering both of innovation and efficiency.

Commenting on the selection of TCS BaNCS, Amit Sethi CIO, Axis Bank said, “EPH solution is built with TCS BaNCS solution for payments processing engine, branch channel, and corporate service channels. The enterprise payment hub has enabled us to provide cutting-edge features to our clients in the domestic payments space - we are able to empower our sales teams to design and deliver highly customised solutions across corporate, government, financial institutions and SME segments. With our increased ability to handle additional volumes, we are able to acquire and execute customer transactions much closer to the cut-off timings - this is a very powerful element of our service proposition. Within a year, the platform has successfully scaled to support payments transaction volume growth of more than 30%. With modern technology and the best of standards like ISO20022 and SoA at the core, EPH platform is a key enabler of our continued growth in the Digital world."

N Ganapathy Subramaniam, President, TCS Financial Solutions said “We are glad to support Axis Bank’s vision of a centralized Payments Solution helping banks and corporations to manage payments, support financial messaging, automate payables and receivables, and optimize liquidity. We have invested in the right technology and believe TCS BaNCS Payments will help our customers in their journey of digital transformation.”