TCS will also deliver system integration and support services to the bank.
TCS BaNCS allows transformation in financial services via a suite of solutions for banks, capital market firms, insurance firms and financial institutions.
Each solution in the TCS BaNCS family has been designed to run as a scalable service, integrated with the current business models, enterprise infrastructures and technology architectures.
Euroclear, the Central Securities Depository in the Nordics, recently implemented TCS BaNCS for its market infrastructure platform.
Länsförsäkringar Bank CEO Rikard Josefson said: "In our evaluation, we found TCS BaNCS to be a superior solution that is very well capable of supporting our ambition of being a digital market leader.
"TCS’ long term commitment to Länsförsäkringar Bank and to the Nordic market was an important factor behind our decision to partner with them."
Länsförsäkringar Bank is the fifth largest Swedish bank, owned by the Länsförsäkringar Group.
TCS North Europe head Amit Bajaj said: "The Nordic market has been on the forefront of digital adoption, driven by rich customer experience and hyper-connected local market infrastructure.
"Our partnership with a digital leader like Länsförsäkringar Bank will create a new standard in a highly advanced Nordic market and serve as an inspiration to the market."
