TCS has announced that Letshego Holdings Limited (LHL) has selected the TCS BaNCS suite as the core banking system for its greenfield venture into retail banking in Africa. The integrated core banking solution will process loans and deposits across seven countries in Africa - Botswana, Swaziland, Tanzania, Uganda, Zambia, Namibia and Mozambique.
Shawn Bruwer, CIO, Letshego Holdings Ltd., said, "The TCS BaNCS solution will help realize our vision of increasing our footprint in the African market which will include retail banking, while it will also enhance our time-to-market for new products, thereby acting as a catalyst for innovation. With an award-winning banking solution acclaimed for its advanced breadth and depth in functionality and complemented by TCS’ implementation expertise, we are confident that we have a win-win solution for our customers."
N. Ganapathy Subramaniam, President, TCS Financial Solutions, said, "TCS BaNCS is no stranger to Africa, with many leading financial services organizations running on our universal financial services platform. With Letshego selecting us as their core banking solution partner for a multi-country rollout outside South Africa, our solution will help them move beyond the realm of a consumer lending business to a serious retail banking player in the market."
