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DNB partners with TCS for peer-to-peer mobile payment application
Oslo, 24. June, 2015: Tata Consultancy Services (TCS) has successfully completed a project with DNB to create the first peer-to-peer mobile solution by a Norwegian bank. The application was launched to the public on 1 June, 2015. The project was completed in just five months, leveraging TCS’ scalable resources and global expertise in the mobile payment area.
“We threw TCS a challenge, and they responded quickly,” says Liv Fiksdahl, Group Executive Vice President, IT and Operations, DNB. “For us, this project has shown that TCS is a reliable partner that focuses on strategic business value. As our digital transformation partner, TCS’ has paid testimony to its customer-centricity. TCS approached the project with gold-standard technical expertise and sheer perseverance.”
Industry experts have estimated that 2015 may well be the year when mobile payments make a major breakthrough in the Western economies. The mobile payment market has been heating up with the likes of Apple, Google and PayPal decisively investing in the area. In Norway, like in the other Nordic countries, there is great demand for domestic mobile payment solutions.
With Vipps, DNB has become a player in the highly competitive retail banking space. Vipps makes peer-to-peer mobile payments as simple as sending a text message. The application is available for iOS, Android and Windows mobile devices. It also allows short chat messaging between the users. The core of the app, nevertheless, is its operability as a safe and secure payment option.
“Digital technologies are reshaping consumers’ relationships with their banks fast,“ says Vikramjit Grewal, Country Manager, TCS Norway. “Payments constitute more than 80 percent of a customers’ interaction with their bank. Offering customers a simpler and easier way to interact has become an important step in a bank’s digital journey, and that’s exactly what Vipps does.”
“This was our first delivery as DNB’s partner in digital transformation, and as such extremely important. We are committed to being the frontrunner in our industry, and this project proves that we are on the right track. However, the most important thing for us is that we have been able to help our customer to become the market leader in innovation,” Grewal says.
TCS’ role in developing DNB’s mobile payment app was important. The scope of work included the design, building, testing and implementing the software, all deliver to a demanding schedule. To adhere to the demands of time, TCS made the most of the agile capabilities in its Global Delivery Network ModelTM.
“Leading IT projects these days are global by nature,” Grewal says. “The best expertise needs to be brought in to the projects regardless of where it resides. The initiative with DNB is excellent showcase of what TCS’ collated skills and capabilities can do.”
Last year, TCS was recognized by Forbes as one of the World’s Most Innovative Companies, positioned 57th overall as the highest-ranking global IT services provider on the top 100 list. This year, TCS was recognized as the fastest growing brand in the IT services industry. Also this year, TCS achieved a superbrand status in the UK, thanks to the firm’s ability to deliver industry-leading IT services and digital transformation projects across a wide range of sectors.
