India’s largest IT services firm Tata Consultancy Services (TCS) expands its partnership with Bank of Baroda, India's second-largest public sector bank, to continue to implement an end-to-end financial inclusion solution over the next five years.

“The application can process around 12 lakh transactions a day and will help the bank's 55,000-plus agents to better service over six crore customers in unbanked areas,” says Manoj Indulkar, Vice President and Operations Head, India Business, TCS.

TCS will implement its TCS Financial Inclusion Gateway Solution for Bank of Baroda as part of the enlarged agreement. Additionally, TCS will supply core infrastructure, including hardware and software, to be installed in bank data centers and assist with application maintenance and support. As needed, TCS will also oversee application change management services to apply bank business requirements and regulatory standards for any new services.

This program will handle both financial and non-financial activities, including those involving Aadhaar and debit cards, in addition to enabling banking services like account opening and IMPS and NEFT transfers.

The bank will be able to better serve its clients in rural and semi-urban areas by making it easier to enroll in important government insurance and pension programs (Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, and Atal Pension Yojana).

Vimal Kumar Negi, General Manager, Financial Inclusion and Corporate Social Responsibility, Bank of Baroda says, “This renewed agreement positions us to leverage TCS's technologies and innovations, further enhancing our operational capabilities and competitive edge.”