US-based Five Star Bank has selected Indian IT services provider Tata Consultancy Services (TCS) to drive digital transformation.

The bank will leverage TCS’ Customer Intelligence & Insights (CI&I) analytics platform to reduce lending risks and provide a hyper-personalised customer experience.

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Five Star Bank, a subsidiary of US-based bank holding firm Financial Institutions, provides retail and commercial banking services across Central and Western New York.

TCS will offer artificial intelligence/machine learning-driven insights and self-serve customer and marketing analytics use cases.

Relationship managers can use the inputs to gain insights on individual customers via metrics such as sentiment score, churn score, product white space, customer persona, segments, transaction profiles, and calls to action.

The solution will also allow the bank to periodically track loans and share predictive early warnings on loans likely to default, the tech vendor said.

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Five Star Bank EVP, chief administrative officer Sean Willett said: “The partnership with TCS Customer Intelligence & Insights will help drive deeper, more meaningful interactions with our customers and communities, further strengthen our approach to managing credit risk, and power the delivery of community banking digitally.

“With CI&I, Five Star Bank is bridging the human-digital divide with contextual AI-driven recommendations for next-best offers and actions,”

TCS North America president Amit Bajaj said: “We are proud to partner with Five Star Bank in its ongoing transformation as they leverage insights from data to help identify new business opportunities via intelligent prospecting.

“We look forward to helping equip the bank’s business customers and relationship managers with timely and actionable alerts and unique insights to drive growth.”

In October 2021, the State Bank of India chose TCS, to enhance its core banking, trade finance, financial reporting, and inclusion capabilities.