TCS completes digital migration for Lloyds Banking Group’s Scottish Widows

India’s biggest IT services provider, Tata Consultancy Services (TCS), on Monday completed a major digital migration for Scottish Widows, transferring over 3.8 million customers to TCS' BaNCS platform, which is managed by its subsidiary, Diligenta. 

A part of Lloyds Banking Group, Scottish Widows Limited is a life insurance, pensions and investment firm based in Edinburgh, Scotland. This modernisation effort replaces legacy systems with a platform designed for faster, simpler, and more efficient services.

In addition to the life and pensions migration, TCS has implemented its next-generation BaNCS Wealth administration platform for the UK market, managing 980,000 retail customer portfolios. This platform supports individual savings accounts (ISAs) and open-ended investment company (OEIC) mutual fund products and enables advanced digital servicing options for an improved customer experience.

TCS President R Vivekanand stated that the team has set a new benchmark with this large-scale migration. He added that their relationship with Scottish Widows is thriving, and they anticipate further enhancements, including leveraging AI to improve the digital customer experience.
Scottish Widows partnered with TCS in 2017 in a 15-year core transformation initiative to streamline operations, enhance customer service, and reduce operational risk. 

Donald MacKechnie, Chief Operating Officer and Managing Director, Longstanding, Scottish Widows said in a statement that the company has reached an important milestone in its transformation programme and ongoing relationship with Diligenta and TCS. “We look forward to continuing to enhance customer experience by providing customers with better and faster service, enabled by digitisation,” he added.

TCS is a major IT service provider in the UK by revenue and one of the largest IT employers in the region. The TCS BaNCS Insurance Platform now manages over 20 million policies in the UK, integrating policy administration, data management, imaging, and workflow management to provide a complete solution that meets evolving customer expectations.