Tata Consultancy Services (TCS), a global leader in IT services and business solutions, has successfully completed a major digital migration for Scottish Widows, the life and pensions division of Lloyds Banking Group. This milestone involved transferring the life and pension heritage data of over 900,000 customers onto TCS’ BaNCS™ administration platform, managed by its subsidiary, Diligenta.
With this final tranche, Diligenta has now migrated more than 3.8 million Scottish Widows customers to the TCS BaNCS™ platform, completing a comprehensive modernization of the company’s legacy systems. The platform upgrade aims to deliver faster, simpler, and more efficient services for customers, reflecting TCS’ commitment to digital innovation in the financial services sector.
In addition to the life and pensions migration, TCS has successfully implemented its next-generation BaNCS Wealth administration platform for the UK market. This platform now manages 980,000 retail customers’ portfolios and supports existing Individual Savings Accounts (ISAs) and Open Ended Investment Company (OEIC) mutual fund products. Beyond current offerings, the next-gen platform enables advanced digital servicing options, improving the overall customer experience.
Scottish Widows partnered with TCS in September 2017 in a 15-year core transformation initiative. The goal was to replace multiple legacy systems, streamline operations, enhance customer service, and reduce operational risk. Today, TCS BaNCS Insurance Platform manages life, pensions, and investment products for over 20 million policies in the UK. The platform’s digitally enabled architecture integrates policy administration, data management, imaging, and workflow management, providing a complete end-to-end solution.
This transformation positions Scottish Widows to meet evolving customer expectations, ensuring faster processing, improved digital accessibility, and a seamless experience for millions of policyholders.
