TCS Signs ₹8,800 Crore Contract With UK’s Nest For 10 Years

Tata Consultancy Services (TCS) has announced the extension of its partnership with Nest, the UK’s largest workplace pension scheme.

The focus of the partnership will be on digitally transforming Nest’s scheme administration services as well as providing enhanced member experiences.

Tata Consultancy Services (TCS) has announced the launch of its digital-first platform, which is powered by BaNCSTM. The platform is expected to revolutionize scheme administration and provide a personalized experience for users.

In a recent development, a contract worth £840 million has been signed for an initial period of 10 years. The contract has a potential maximum worth of £1.5 billion if elevated for the entire 18-year tenure.

The Department for Education has chosen TCS to manage and improve consumer experiences for the Teachers’ Pension Scheme in England and Wales.

TCS has revealed an extension of their partnership with Google Cloud, alongside the introduction of a new product called TCS Generative AI. This offering utilizes Google Cloud’s generative AI services.

Zurich Insurance Company and Dubai International Financial Center have recently implemented TCS BaNCS Insurance for Property and Casualty, resulting in a significant transformation of their business operations and a multitude of business benefits.

Ikano Bank AB, a financial institution based in Sweden, has recently chosen the TCS BaNCS™ Global Banking SaaS Platform for its core banking transformation across Europe.

For the eighth time, TCS has been ranked as the top IT service provider for customer satisfaction in the UK.

This was revealed in an independent survey conducted by Whitelane Research and PA Consulting, which involved CIOs from the biggest IT spending organizations in the country.

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TCS has maintained its position as the number one IT service provider in the UK, according to the survey results.

The company revealed that its consolidated net profit for the quarter ended March 31, 2023, has increased by 14.8% YoY, reaching ₹11,392 crore.