Israel’s OFEK Credit Union selects TCS Banking Services Bureau

To achieve growth and transformation goals

Tata Consultancy Services announced that Israel’s OFEK Credit Union (OFEK) has selected TCS’ Banking Services Bureau (BSB), powered
by TCS BaNCS, to achieve its growth and transformation goals.

OFEK was formed in 2012 with the goal of enabling households and small businesses in Israel with easy access to credit through peer-to-peer lending while also promoting sustainability and social value. More recently, OFEK obtained a formal license to supply banking services which has given further impetus to its strategic objectives.

OFEK selected TCS’ BSB powered by TCS BaNCS, to quickly launch its operations and offer innovative and contextual digital banking services. TCS BaNCS’ market-ready banking and securities solution and rich set of
APIs delivered on a SaaS model, will help OFEK connect to and integrate with the market ecosystem and build a vibrant and comprehensive digital financial offering for its customers.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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First Published: Mon, September 19 2022. 13:18 IST