Tata Consultancy Services : Vinay Singhvi on Transformation
Vinay Singhvi , VP & Business Unit Head of Banking , Financial Services & Insurance , UK & Ireland at TCS , discusses transformation and change in the industry
Tata Consultancy Services ( TCS ) is one of the leading IT and tech service providers the UK , as per the latest software and IT services ranking by Tech Market Review ; and is the largest provider of IT services in the UK . “ TCS is part of the Tata Group and we have been in the United Kingdom for over 50 years ,” says Vinay Singhvi , Vice President and Business Head for UK and Ireland Banking , Financial Services , and Insurance ( BFSI ) unit for TCS . “ We have the privileged position of being the purpose-led transformation for our customers , including vitality .”
As the world recovers from the pandemic , we are seeing businesses across industries - not just financial services - accelerating their use of technology . “ Organisations are now looking to adapt new business models to build more customised products and services , as the needs of the end-customers are changing so rapidly .”
The segment will also continue to have a lot of competitive differentiation . “ We are , for example , seeing the rise of a lot of challenger banks ,” says Singhvi , “ especially over the past two or three years , as well as Insuretechs , Fintechs and innovative , creating the right competitive tension within the industry to make sure that the existing organisations are able to cater to their end-customers in much more predictable , efficient , agile and nimble ways .”
To summarise , Singhvi says , “ I believe that all of this is leading to our customers focusing on understanding their own end-customers better . They are looking at hyper-personalisation in terms of what products and services they offer . They want to service them through seamless end-to-end digital journeys , and most importantly all of this depends upon making sure that the data and personal information that we have is kept secure .”
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