Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, announced the successful deployment of its core banking solution from TCS BaNCS at Panzhihua (PZH) Commercial Bank, China, in a record time of ten months. This deployment establishes a benchmark for the corporate banking segment in China. To date, TCS BaNCS has won 16 core banking deals in Greater China.
PZH is the first city commercial bank in China to use the TCS BaNCS solution. The bank selected TCS BaNCS based on the solution’s highly successful implementation track record, especially in the Chinese market, and an in-depth domain expertise. The core banking modules deployed include deposits, loans, payments, cards and reporting.
Xu Feng, President, PZH, said, “A smooth implementation was a priority for us, and TCS BaNCS came well-recommended by other Chinese banks following their own successful experiences with the product and organization. The solution went live at our bank in ten months supported by a strong TCS BaNCS team in China. The parameterization features of the solution allow us to quickly design and promote new products, strengthening our market capabilities. Its advanced data architecture shortens the time required to perform account settlement activities, enabling employees to maintain regular working hours in accordance with the employee-care concept of PZH Commercial Bank.”
Brent Zhu, Greater China Head, TCS Financial Solutions, said, “We are proud to be associated with some of the leading banks in China, and with Panzhihua, our first corporate banking solution in China going operational, we reaffirm our commitment to this market. We have built a strong pool of local resources, including knowledge consultants and an experienced delivery team in China. Our customers have helped us adapt our core banking solution to the specific functions and requirements of this region, making it a solution that easily integrates with the array of local requirements.”