Mumbai, August 7, 2013: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, announced the successful deployment of its core banking solution from TCS BaNCS atPanzhihua (PZH) Commercial Bank, China, in a record time of ten months. This deployment establishes a benchmark for the corporate banking segment in China. To date, TCS BaNCS has won 16 core banking deals in Greater China.
PZH is the first city commercial bank in China to use the TCS BaNCS solution. The bank selected TCS BaNCS based on the solution’s highly successful implementation track record, especially in the Chinese market, and an in-depth domain expertise. The core banking modules deployed include deposits, loans, payments, cards and reporting.
Xu Feng, President, PZH, said, “A smooth implementation was a priority for us, and TCS BaNCS came well-recommended by other Chinese banks following their own successful experiences with the product and organization. The solution went live at our bank in ten months supported by a strong TCS BaNCS team in China. The parameterization features of the solution allow us to quickly design and promote new products, strengthening our market capabilities. Its advanced data architecture shortens the time required to perform account settlement activities, enabling employees to maintain regular working hours in accordance with the employee-care concept of PZH Commercial Bank.”
Brent Zhu, Greater China Head, TCS Financial Solutions, said, “We are proud to be associated with some of the leading banks in China, and with Panzhihua, our first corporate banking solution in China going operational, we reaffirm our commitment to this market. We have built a strong pool of local resources, including knowledge consultants and an experienced delivery team in China. Our customers have helped us adapt our core banking solution to the specific functions and requirements of this region, making it a solution that easily integrates with the array of local requirements.”
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 a faster speed-to-market for our clients. With a global customer base of more than 280 institutions operating in over 80 countries, TCS Financial Solutions deliver 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 services, consulting 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, BPS, infrastructure, 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 285,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 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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