Cathay United Bank wanted to modernize core banking and increase operational efficiency. They found a certain way.
Cathay United Bank (CUB) is one of the leading retail and corporate banks in Taiwan. As a part of their core banking modernization project, CUB wished to focus on five primary objectives to drive growth and reduce overheads: namely, speed up transaction time, accelerate time to market for new products, provide real-time management information, improve operational efficiency and reduce overall maintenance costs. Tata Consultancy Services (TCS) implemented its Core Banking Solution from TCS BaNCS, a multichannel, industry-recognized solution to help transform CUB's transactional banking needs. TCS BaNCS helped CUB consolidate multiple systems and establish optimal business processes with the help of the flexibility afforded by the new, modularized and parameter-driven core banking solution. Furthermore, CUB has since then significantly increased the number of accounts managed from 7.3 million in 2006 to 11 million in 2014, while also boosting daily transaction volumes to 4.5 million from 1.2 million.
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