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Case Study

TCS BaNCS helps CorpBanca to adhere to the regulatory mandate and become the first custodian of investment funds in Colombia

 

Read how TCS BaNCS solutions enabled CorpBanca to serve its global and local clients through a single, homogeneous IT platform.

The Customer

CorpBanca Colombia SA Investment Trust” Trust Company is a leader in the Colombian Trust Industry and is a subsidiary of Banco CorpBanca, Colombia. CorpBanca Investment Trust has the authorization of the Financial Superintendence of Colombia to implement the activities of custody of securities.

Business Scenario

Driven by the regulation issued by the Colombian ministry of Finance, CorpBanca started looking for a system which could help meet the regulatory requirements and also communicate directly with the market entities. After a round of detailed evaluation and due-diligence, CorpBanca chose TCS BaNCS to help achieve its objectives.

TCS' Solution

The implementation was completed in two phases. The first phase covered reference data, trade settlement, announcement capture, and corporate action and web channels capabilities while phase two took care of market connectivity. The second phase covered migration of Local and Global clients.

Benefits

The TCS BaNCS solution has delivered the following critical benefits to CorpBanca:

  • Market Connectivity
  • Automation
  • Governance and regulatory compliance
  • Mitigated risks
  • An enriched customer experience through web channels