Taiwan’s KGI Bank upgrades banking operations with TCS BaNCS

banking
- Advertisement -

Tata Consultancy Services (TCS) has announced in a press release that its customer, KGI Bank in Taiwan, has successfully deployed TCS BaNCS for its corporate and consumer banking operations, to prepare for its next phase of growth.

KGI Bank’s IT landscape had become very complex, with multiple legacy core banking systems acquired through various mergers. These systems were hampering the bank’s ability to grow, keep up with changing customer needs, and limiting its plans for international expansion. KGI Bank decided to replace them and move to a single, integrated banking solution that would support its growth and transformation agenda.

Following numerous rigorous evaluations, KGI Bank selected TCS BaNCS to help achieve both its short term goals and its strategic objectives. The successful implementation unified the Bank’s corporate and consumer banking businesses, and is “one of the fastest core banking deployments in Taiwan,” according to the press release.

- Advertisement -

Leo Weng, CIO, KGI Bank, said, “The successful deployment of TCS BaNCS has helped us establish a robust technology environment to support our growth objectives and unify a wide range of business functions spanning deposits, loans, channels and payments for both corporate and consumer banking. We also decided to tackle both local and foreign currency deposits with this initiative, which in Taiwan is a full-fledged project by itself, and I am happy to say that in record time we were able to achieve these goals with the help of the continuous support from TCS and our staff, including our CEO.

“We are now able to consolidate information across service channels and business lines to have a single view of the customer, enabling a superior experience and better risk management. TCS BaNCS has helped us improve time to market for new products, effortlessly meet the heavy processing workloads and performance requirements of retail banking, while improving operational efficiencies.”

Commenting on the successful deployment of TCS BaNCS at KGI Bank, Venkateshwaran Srinivasan, Head, TCS Financial Solutions, said, “KGI Bank now has a firm foundation to accelerate its digital transformation journey, evolve into a future-ready organization and expand into the Asia-Pacific markets. By empowering its digital initiatives and significantly improving time to market, this deployment of TCS BaNCS is representative of one of the key principles of the TCS Business 4.0™ framework, where we empower our customers to drive exponential value.”

TCS BaNCS has been installed at 450 sites globally, and provides banks with “a high performing processing engine and open banking capabilities.” It is a collection of loosely coupled components, services and APIs that implement standards from BIAN and IFX for a wide range of technology environments, with digital and analytics preparedness.

- Advertisement -