BENGALURU: IT services firm Tata Consultancy Services (TCS) and UK’s largest workplace pension scheme Nest have announced the expansion of their partnership to focus on digitally transforming the scheme administration services.
TCS has signed a contract worth 840 million pounds ($1.1 bn) for an initial tenure of 10 years. As part of the partnership, TCS will help Nest transform its administration services using a future-ready, digitally enabled, omnichannel platform powered by TCS BaNCS.
“Looking forward to continuing our journey with TCS and exploring opportunities ahead of us. We have a strong foundation after many years of working together and they’ve proven their ability to deliver successfully for a scheme the size and complexity of Nest,” said Gavin Perera-Betts, chief customer officer, Nest.
“The partnership between Nest and TCS resulted in the successful pension plan for the UK workforce, which is now a global benchmark on how an innovative, user-friendly, auto-enrolment pension scheme should be run,” said Vivekanand Ramgopal, President, BFSI Products & Platforms, TCS. Nest and TCS have worked closely since 2011 when the digital, auto-enrolment pension scheme was first launched. TCS said its BFSI Platforms is an end-to-end digital ecosystem that powers journeys of life, pensions/annuities, property/casualty, and health insurance providers.