TCS inks pact with Norway's BankID BankAxept to boost financial infrastructure

IT major Tata Consultancy Services on Wednesday said it has entered into a strategic partnership with Norway's national payment and electronic identity system BankID BankAxept to enhance the European country's financial infrastructure.

"BankID BankAxept AS chose TCS to create a new command centre for its proven experience in leading large-scale growth and transformation projects for enterprise clients in the banking and financial services sector," the IT major said in a statement.

The partnership is aimed at enhancing resilience, security, and availability of Norway's critical financial infrastructure, it added.

BankAxept is the national payment system in Norway, with 80 per cent of card payments made using a BankAxept card. BankID is the Norwegian eID verification solution, with more than 90 per cent of the country's population, banks, public institutions, and commercial enterprises dependent on it, TCS said.

Under the partnership, TCS will create a new operations command centre in Oslo for immediate responses to any service disruption, security issues, or client requests related to the country's national payments and electronic identity verification systems.

BankID BankAxept AS CEO Oyvind Westby Brekke said, "We turned to TCS as a trusted technology partner to build a mission-critical command centre that will quickly help us resolve any technical issues or disruption to services, and this will ensure the resilience and reliability of Norway's vital financial services infrastructure".

TCS Head for Banking, Financial Services & Insurance – Continental Europe - Hemakiran Gupta said, "Our operations command centre will enhance the security, reliability, and resilience of the national payments and electronic identification infrastructure that underpins Norway's banking and financial services ecosystem while supporting new innovative services from ecosystem partners".

In April this year, TCS bagged a deal from Norwegian government agency Bane NOR to enable secure access to its digital infrastructure to employees, partners, and train operators.

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