Tata (TCS) Quartz Allows Banks And Payment Systems To Be Connected To RippleNet

TCS Allows Banks And Payment Systems To Be Connected To Ripplenet

Tata Consultancy Services (TCS), a recognized consulting and business solutions in the country, is allowing companies to help companies to embrace blockchain technology and be connected to Ripplenet. TCS is India’s largest multinational business group and it offers different services.

TCS Helps Companies Get Connected To The Blockchain

TCS BaNCS is a universal financial solution that has been designed to help financial institutions around the world. This service allows participants to offer better services and customer experience by embracing new and innovative technologies such as blockchain.

This financial solution has been deployed at more than 450 installations around the world and it is already servicing more than 25% of the global population around the world. According to XRP Arcade, the solution is processing more than one billion accounts in more than 100 countries.

According to one of the documents that the firm uploaded to its website, the Quartz Cross Border Remittances solution allows firms to be connected to DLT payment infrastructures, including RippleNet, among others.

The document that they have uploaded to their site reads as follows:

“The Quartz Gateway seamlessly connects the TCS BaNCS Payments system to the blockchain based Payments platform using APIs, and supports services related to FX Quote finalization and debit/credit of beneficiary accounts.”

This allows firms to leverage their services and reduce operational costs. Using Ripple services, it is possible for companies to improve their cross-border payment solutions and offer better services to clients from different countries.

Ripple is already working with more than 200 companies and in the future, the number of firms could increase. The main intention is to keep growing to offer solutions to more financial institutions and banks that want to be connected to the blockchain.

Moreover, Ripple uses the XRP digital asset to make even faster and cheaper payments. Furthermore, the virtual currency could be used to source liquidity on-demand and improve payments and transactions in specific financial corridors.