Info-tech

TCS to set up service hub in Edinburgh in deal with Phoenix Group

Our Bureau Mumbai | Updated on November 12, 2019

File photo   -  Reuters

Some employees from Standard Life will be transferred to TCS 

Tata Consultancy Services (TCS) will set up a technology and operations service hub in Edinburgh as part of a deal with Phoenix Group, Europe's largest life and pensions consolidator.

 A number of employees from Phoenix Group's Standard Life will be transferred to TCS over the next three years as part of the agreement.

Phoenix Group had acquired  Standard Life Assurance Limited in 2018. Standard Life Assurance is a long-established expert in workplace pensions, personal pensions, long term savings and retirement solutions, and its customers and clients include individual savers and some of the largest employers in the UK, as well as professional advisers.

The expanded partnership will result in the digital transformation of Standard Life's pensions and savings operations onto the TCS BFSI Digital Platform, powered by TCS BaNCSTM. This will expand the overall scope by a further 4.2 million policies, taking the total number of policies managed by Diligenta, TCS' regulated subsidiary in the UK, on behalf of Phoenix Group, to nearly One million. 

"A key element of the partnership is TCS' commitment to expand its already significant Scottish presence and establish a TCS technology and operations service hub in Edinburgh, with a skilled team of experts from Standard Life and TCS to support the partnership and deliver excellence in customer service," TCS said in a statement.  

Additionally, the hub will provide opportunities for Standard Life's and TCS' product experts to collaborate with end-users to envision new offerings. The transformation is expected to take approximately three years to complete, with a number of Standard Life employees transferring to TCS by the end of that period.

Published on November 12, 2019

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