CTBC, one of the largest private banks in Taiwan, has signed up to use the Tata Consulting Services’ (TCS) core banking software, BaNCS, to transform its digital banking and wealth environments.
CTBC aims to use BaNCS to provide specialised financial services across retail, wealth and corporate banking, including money trusts, as well as trade finance and international remittance.
Headquartered in India, TCS provides IT services and digital transformation solutions for a range of industries, including banking, markets, and insurance. BaNCS Cloud is a microservices based SaaS global banking platform that aims to accelerate transformation within financial firms through an extended ecosystem of cloud-based tools.
The new core banking system will offer solutions for loans, deposits, international and domestic remittances, payments/collection, facility limits and collaterals across both consumer and corporate banking businesses.
“We selected TCS BaNCS for our digital transformation initiatives and to help differentiate our offerings by providing contextual, innovative solutions across banking and wealth management.” said Titan Chia, CTO of CTBC Bank. “TCS BaNCS’ cloud native solutions will help simplify our IT landscape, spanning consumer, corporate banking, and trade finance in alignment with our vision for a tiered architecture through front-end agile delivery, and mid-platform shareable modules backed by an intelligent digital core.”
The upgrade is hoped to support the bank’s growth aspirations over the next decade, CTBC said
