Banking tech heavyweight Tata Consultancy Services (TCS) has signed Sweden's Ikano Bank for its flagship TCS Bancs core banking system. The solution will be delivered on a Software-as-a-Service (SaaS) basis and will support the bank's pan-European core banking modernisation. Started by the founder of IKEA, Ingvar Kamprad, Ikano Bank operates in eight markets - Sweden, Norway, Denmark, Finland, Germany, Poland, the UK, and Austria - and is part of the Ikano Group, which owns 51% of the bank.