Implementation of TCS BaNCS Core Banking System
Implementation of new core banking system is one if the most challenging projects in the banking areas – it affects all the business processes and the entire banking organization. It is never easy. Over the last decade top Russian banks increasingly moved towards implementing world class core banking solutions from the foreign vendors. While these
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Editorial Team
- May 12, 2021
- 3 minutes
Implementation of new core banking system is one if the most challenging projects in the banking areas – it affects all the business processes and the entire banking organization. It is never easy. Over the last decade top Russian banks increasingly moved towards implementing world class core banking solutions from the foreign vendors.
While these systems offers wide breath of functionality, versatility and excellent performance they do not support Russian Accounting Standards (RAS), do not provide regulative reporting, don’t work with Russian payment systems and miss other local functions vital to the Russian bank.
Thus to implement foreign banking system we should not only deal with the chores of adjusting systems to bank’s specific needs, but also to adapt it to work in Russia, process called localization. The localization process could be very long and very expensive.
In 2007 we have selected the TCS BaNCS as a new Core Banking system of B&N bank.
TCS BaNCS is a globally recognized industry leader, with its solutions consistently ranked in top positions by industry experts.
TCS BaNCS Core Banking offers
Complete coverage of lines-of-business: deposits, loan origination and servicing, payments, treasury management, trade finance, and cards
Functional depth and market-tested reliability
Multi-channel integration:
Provides a consistent customer experience across multiple channels with total visibility to the bank’s servicing agents, enabling banking ‘anywhere anytime’
Single view of the customer and the bank:
Provides a comprehensive view of customer activities across lines of business and access channels, as well as a single view of the bank’s products and services to the customer.
One of the main reasons of selecting BaNCS was TCS’s committed to our project and readiness to allocate implementation resources that we need.
We had to work under 24 month deadline and stay within the tight budget. We decided to design the project on the following pillars:
BaNCS would provide business with on-line 24/7 service, we will integrate it with local Russian G/L system.
We will do regulative reporting – this integrating Banks with separate reporting systems.
We will keep existing systems such as processing, payments, etc.
We will use SOA using Oracle ESB as a middleware. Robust integration is critical to succeed.
We will automate the implementation process as much as possible – data migration, testing , reconciliation.
We will build Application Performance management and Infrastructure management applications so that when we go live we will be ready to deal with real-world issues.
We went live in 2009 in one of our branches and in 2011 we will move the entire enterprise on the new platform.
