Zions Bancorporation, a Salt Lake City, UT-based premier financial services company, has migrated to the TCS BaNCS Core Banking platform for Commercial and Commercial Real Estate Lending from Tata Consultancy Services (TCS). The implementation will allow them to operate in real-time.
The digital core infrastructure investment will assist Zions Bancorporation in facilitating the integration of a wide variety of digital product offerings. The solution will provide a single environment that will help to bring consumer, commercial & industrial and commercial real estate loans onto one platform. The company expects the underlying investment in core servicing systems to serve them for many years with the support of TCS’ continual investment in research and development.
As Zions replaces its core servicing systems, the management team has redesigned and refreshed its public websites, which receives millions of visits every month. The company has also upgraded the Treasury Internet Banking platform that is used by thousands of commercial customers. In addition to that, Zions has launched a digital person to person payments application called Zelle, which is expected to serve its customers efficiently in the years to come. In its continual effort to improve customer experience, Zions has introduced digital account opening and e-signature capabilities that has significantly reduced the time for application process and account opening process for the deposit, credit card, mortgage, consumer, and small business lending.
Zions Bancorporation is replacing its consumer and small business mobile and online banking platform that is utilized by more than 700,000 retail and small business customers. The company will also start a project to convert its deposit servicing system to the market ready TCS BaNCS Core Banking platform by 2022.
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