TCS partners with Australia's Volt to expand payment offerings

Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organisation, announced that Volt, Australia’s first neobank, has partnered with TCS to power Volt 2.0, its next-generation Banking as a Service (BaaS) platform. Set to launch in 2021, Volt 2.0 will leverage TCS BaNCS™, a global payments solution, to expand the bank’s offerings to include NPP, BPAY and DE, enabling full-service banking capabilities for all its customers.

Volt will work closely with TCS to incorporate the real-time capabilities of TCS BaNCS for payments, along with API-based access to open banking components that are not dependent on traditional legacy structures. The end-to-end solution provides full back-end support, the flexibility to integrate leading technologies, and connect with an extended ecosystem to offer innovative new products and services, the company said.

“Volt’s unique platform technology places it at the forefront of Australian banks, and positions us well for incredible growth into the future,” said Steve Weston, Founder and CEO, Volt. “Operating in a highly regulated industry and the goal of becoming a market leader has led Volt to partner with exceptional global technology players like TCS whose commitment to continuing innovation will ensure Volt’s banking platform remains cutting-edge.”

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Source: TCS partners with Australia’s Volt to expand payment offerings