IT firm Tata Consultancy Services (TCS) said that it has deployed its core banking product TCS BaNCS at ChinaTrust Commercial Bank (CTBC) in Taiwan.
BaNCS is TCS’ main product for banks, and offers various solutions for core banking, internet banking, treasury, wealth management, mobile banking and insurance.
“We chose TCS BaNCS as our preferred solution to help us deliver a seamless customer experience, maintain our leading position in Taiwan, and extend our footprint into new markets”, said Frank Shih, Executive Vice-President and Group Head, CTBC.
BaNCS will help the CTBC Bank to consolidate its IT landscape and standardise and integrate operations between its Taiwan and Hong Kong businesses, TCS claimed.
Earlier this week, TCS had deployed the BaNCS solutions at National Bank of Bahrain and Harbin Bank, China.
Software products from the likes of TCS and Infosys find many takers in the global markets as they are considered as good as those from US and European companies, but often come at a fraction of the cost.
Headquartered in Mumbai, TCS is part of India’s largest conglomerate Tata Group, and is currently the world’s second largest IT services provider.
It operates in more than 46 countries and offers consulting services in various areas like IT, business and technology and engineering.
It is India’s largest private sector employer, and has nearly 3 lakh employees in India.
CTBC is one of the largest privately owned banks in Taiwan. Established in 1966, under the name China Securities and Investment Corporation, CTBC changed its name to Chinatrust Investment Company Ltd in 1971. In 1992, it was transformed into Chinatrust Commercial Bank.
CTBC has subsidiaries in the Philippines, the United States, Canada and Indonesia and foreign branch offices in Singapore, Hong Kong, India, Japan, and Vietnam and foreign representative offices in London, Bangkok, Hanoi, Manila and Los Angeles.