Digital transformation to accelerate growth and adoption of modern banking practices
Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced that its flagship product TCS BaNCS has gone live in Gansu Bank, China. Gansu Bank is the only provincial city commercial bank directly managed by the Gansu Provincial Government and has approval from China Banking Regulatory Commission. An award winning institution, Gansu Bank has won acclaim for innovation, risk management and technology practices in the recent past.
The Bank took rapid growth strides powered by a robust platform that enables speed and compliance. This go-live involved integration of TCS BaNCS with 100 other peripheral systems and was a complex overhaul of the IT infrastructure in the Bank. This go-live expands TCS BaNCS’ footprint in China with three other large credit unions that are already fully operational in addition to 20 other financial large banks and financial institutions in the country.
Outlining the rationale for the implementation of TCS BaNCS, Li Xin, President, Gansu Bank said “With the rapid changes in the Chinese Banking industry, the role of technology has now evolved from business support to a major competitive differentiator. We selected a proven, fully localized platform, TCS BaNCS to deliver the high level of innovation our vision demands to become a progressive, modern Bank. TCS is definitely enabling our organization to become a highly competitive, IT savvy bank.” “A go-live in China within 18 months is truly a feather in our cap” said Venkateshwaran Srinivasan, Head of TCS Financial Solutions. “The deployment of TCS BaNCS and Gansu Bank is testimony to the readiness of our software to meet market needs and the local delivery capability we have established in China and in which we continue to invest. We are happy to be partnering with Gansu Bank in their journey of modernizing their core platform to achieve competitive advantage in the market place.”