Bank Negara Indonesia, a leading state-owned bank, has been preparing for a rapid growth phase in their custody business since 2009. With the recent upgrade of Indonesia’s investment grade status, the prospects for investors have increased. BNI realized that by deploying a fully-localized solution optimized for Indonesia’s capital markets, the bank would be able to leapfrog competitors to provide the highest levels of service to Indonesia’s investor community.
BNI deployed TCS BaNCS for Custody and became the first custodian bank in the Indonesian market. With this deployment BNI was able to:
Automate cash settlement process
Facilitate greater usage of SWIFT network and other custody functions
Increase time and cost efficiency by 30 - 40%