Digital transformation to accelerate growth and adoption of modern banking practices
Mumbai, March 8, 2018: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced that its flagship product TCS BaNCS has gone live in Gansu Bank, China. Gansu Bank is the only provincial city commercial bank directly managed by the Gansu Provincial Government and has approval from China Banking Regulatory Commission. An award winning institution, Gansu Bank has won acclaim for innovation, risk management and technology practices in the recent past.
The Bank took rapid growth strides powered by a robust platform that enables speed and compliance. This go-live involved integration of TCS BaNCS with 100 other peripheral systems and was a complex overhaul of the IT infrastructure in the Bank. This go-live expands TCS BaNCS’ footprint in China with three other large credit unions that are already fully operational in addition to 20 other financial large banks and financial institutions in the country.
Outlining the rationale for the implementation of TCS BaNCS, Li Xin, President, Gansu Bank, said, “With the rapid changes in the Chinese Banking industry, the role of technology has now evolved from business support to a major competitive differentiator. We selected a proven, fully localized platform, TCS BaNCS to deliver the high level of innovation our vision demands to become a progressive, modern Bank. TCS is definitely enabling our organization to become a highly competitive, IT savvy bank.”
“A go-live in China within 18 months is truly a feather in our cap” said Venkateshwaran Srinivasan, Head, TCS Financial Solutions. “The deployment of TCS BaNCS and Gansu Bank is testimony to the readiness of our software to meet market needs and the local delivery capability we have established in China and in which we continue to invest. We are happy to be partnering with Gansu Bank in their journey of modernizing their core platform to achieve competitive advantage in the market place.”
About Gansu Bank
Established on November 19, 2011 Gansu Bank serving the local economy in terms of agriculture, urban and rural residents, small medium size enterprises ranking 67th amongst top 100 banks and ranking 11th amongst 130 commercial banks in China. Prior go-live till September 2016, Gansu Bank had 1.1 million personal and over 20,000 corporate customer using e-channel accounted for transaction volume of 3.15 million and transaction value of 133.15 billion yuan. Since its establishment, Gansu Bank has invested 59.847 billion yuan in loans for agriculture and alleviation of poverty with total net profits of 5.198 billion yuan to demonstrate growth multiplied 30 times of initial value.
During the past five years, Gansu Bank has demonstrated its pride, care and gratitude to local community by investment of more than 210 billion yuan in various types of loans and more than 22 million yuan in public welfare undertakings.
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. With a global customer base of more than 370 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, capital markets and insurance industries worldwide. For more information, visit us at https://www.tcs.com/bancs
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique, location-independent Agile delivery model, a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 390,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $17.6 billion for the year ended March 31, 2017 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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TCS Financial Solutions Media Contacts
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