Cathay United Bank, Taiwan implements TCS BaNCS Core Banking

PRESS RELEASE

 

Cathay United Bank, Taiwan implements TCS BaNCS Core Banking

SIBOS, Hong Kong, September 15, 2009 –  Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading IT services, consulting, business solutions and outsourcing firm, announced today that Cathay United Bank, a full-service bank in Taiwan has implemented TCS BaNCS Core Banking.  

“With over 180 domestic branches and more than 10 overseas offices, the team at Cathay United Bank required a world class core banking solution that would deliver outstanding business value,” said KT Chang, Chief Information Officer, Cathay United Bank. “We selected TCS BaNCS because of its recognized leadership in the Taiwanese banking market. With TCS BaNCS we have invested in the future; TCS is passionate about technology and our business.”  

Highlighting the success, N Ganapathy Subramanian, President, TCS Financial Solutions said, “Cathay United Bank needed a strategy that would assist in lowering costs and bringing new products to market quickly and efficiently. TCS BaNCS Core Banking enabled Cathay United Bank with a rock solid platform that will deliver a real competitive advantage. This implementation highlights our team’s ability to deliver a powerful and flexible retail banking solution on time and on budget. In addition, I am pleased to announce that this is the fifth TCS BaNCS Core Banking implementation in Taiwan. With Cathay United, TCS BaNCS is the number one core banking market leader in Taiwan.”

About Cathay United Bank

Cathay United Bank is a wholly owned subsidiary of Cathay Financial Holding Company, the largest financial holding company in Taiwan. The Bank is a full-service bank serving consumers and businesses with over one hundred domestic branches and over ten overseas offices. For businesses, the Bank offers a complete line of products and services, in addition to experienced staff members who are committed to helping their customers’ enterprises succeed. For consumers, the Bank offers different consumer banking products to meet the financial needs of individuals as well as families.

For further information, visit https://www.cathaybk.com.tw/cathaybk/english/eindex.htm

About TCS BaNCS Core Banking

TCS BaNCS Core Banking is a fully scalable, modular core banking solution which automates every aspect of a financial institution’s back, middle and front office operations in one fully integrated solution. This multichannel, multilingual and multicurrency system allows 24/7 real time, event driven transaction processing and reporting which results in substantially lower hardware and integration costs. TCS BaNCS Core Banking offers the world’s leading banks with the opportunity to maximize efficiency and minimize risk through its advanced business application technology.

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best of breed solutions that drive growth, reduce costs, mitigate risk and offer faster speed to market for our clients. With a global customer base of more than 240 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs.

About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT servicesconsulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of  IT,  BPSinfrastructure,  engineering and assurance services. This is delivered through its unique Global Network Delivery Model™,recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 140,000 of the world's best trained IT consultants in 42 countries. The company generated consolidated revenues of US $6 billion for fiscal year ended 31 March 2009 and is listed on the National Stock Exchange and Bombay Stock Exchange in India.For more information, visit us at www.tcs.com.

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