TCS Partners With BankID BankAxept AS To Enhance Norway’s National Payment And Electronic Identity Systems

Tata Consultancy Services (TCS) has entered a strategic partnership with BankID BankAxept AS, Norway’s national payment and electronic identity systems, to set up and manage an operations command center that will enhance the resilience, security and availability of the country’s critical financial infrastructure, the company on Monday said through an exchange filing.

About BankAxept

BankAxept is the national payment system in Norway, with 80 percent of card payments made using a BankAxept card. BankID is the Norwegian eID verification solution, with more than 90 percent of the country’s population, banks, public institutions and commercial enterprises dependent on it.

New regulations around digital identity authentication require BankID to offer users a compliant, reliable and secure electronic identity solution and ‘round the clock’ support.

About the partnership

BankID BankAxept AS chose TCS to create a new command center, for its proven experience in leading largescale growth and transformation projects for enterprise clients in the banking and financial services sector.

As part of the agreement, TCS will build and manage a 24x7 operations command center at Oslo, Norway, for all BankID BankAxept AS users and clients. The new command center will enable immediate responses to any service disruption, security issues, or client requests that are related to Norway’s essential national payments and electronic identity verification systems.

TCS will operate a dedicated monitoring framework at the new command center that can predict, react and prevent any issue in the value chain from impacting the wider financial services ecosystem.

The framework will feature a mechanism that efficiently shares communications data with a team of experts and vendors so they can quickly identify the root cause of the problem and collaborate to resolve any issues. The command center has the capabilities to manage teams and vendors, helping to quickly resolve all disruptions, urgent security alerts or events, and can integrate value-added services from partner ecosystems.

TCS shares

The shares of TCS on Wednesday at 11:11 am IST were at Rs 3,621.60, up by 0.43 percent.