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Israel’s 1st Fully Digital Bank---By TCS

Current Context: Israel's Ministry of Finance, has selected India's largest software services firm Tata Consultancy Services (TCS) to transform its banking sector to digital by launching
Israel’s 1st Fully Digital Bank---By TCS
Israel's first fully digital bank which will be seen as a transformative initiative that can impact the business model of other sectors as well.
  • Israel’s banking sector will be transformed in such a way which will serve as a shared, plug-and-play, digital banking operations platform powered by the TCS BaNCS Global Banking Platform (which is a universal financial solution designed to help financial institutes to engage themselves in digital platform ) which will help start-up banks to launch their operations very quickly.
  • The digital bank will be launched by the year 2021. The fully digital bank will have no physical branches and will provide Israeli citizens with all the services that regular brick and mortar banks offer, including credit, deposits, loans, account management, securities trading and processing.

Static Part: 

  • Capital of Israel: Jerusalem
  • Currency of Israel: New Shekel

Question:

Q.1 Which largest software company is selected by Israel to launch its first digital bank?
a. HCL Technologies Limited.
b. Wipro Limited
c. TCS
d. Infosys Limited
Israel’s 1st Fully Digital Bank---By TCS Israel’s 1st Fully Digital Bank---By TCS Reviewed by Neha Verma on April 23, 2020 Rating: 5

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