Tata Consultancy Services helps Taiwan’s CTBC Bank in digital transformation
Tata Consultancy Services (TCS) said that Taiwan-based CTBC Bank has chosen TCS BaNCS for Banking and Wealth Management for the digital transformation of its business as well as to fuel its future growth.
CTBC Bank opted for TCS BaNCS to streamline its IT landscape and provide its customers with new and engaging digital experiences.
Titan Chia — CTBC Bank CTO said: “Our bank has grown to play a significant role at the forefront of Taiwan’s financial services industry, with a proud history of many firsts. We selected TCS BaNCS for our digital transformation initiatives and to help differentiate our offerings by providing contextual, innovative solutions across banking and wealth management.
“TCS BaNCS’ cloud native solutions will help simplify our IT landscape, spanning consumer, corporate banking, and trade finance in alignment with our vision for a tiered architecture through front-end agile delivery, and mid-platform shareable modules backed by an intelligent digital core.
According to Tata Consultancy Services, TCS BaNCS’ next-generation digital core will help the Taiwanese bank to offer specialized financial services in retail, corporate and wealth banking, including money trusts along with international remittance and trade finance.
The new core banking system of CTBC Bank will provide solutions for loans, international and domestic remittances, payments/collection, deposits, collaterals, and facility limits across consumer and corporate banking business, while underpinning round-the-clock customer services.
Besides, the new core banking system will improve the banking experience for all customers and support the growth aspirations of CTBC Bank over the next decade.
The depth and breadth of functionality and microservices-based, cloud native architecture of TCS BaNCS is expected to help the Taiwanese bank in innovating and powering its digital strategy, spot new business opportunities, and expand its presence across the region.
Venkateshwaran Srinivasan — TCS Financial Solutions Global Head said: “The TCS BaNCS solution will bring CTBC Bank onto a modern core across their product lines of banking and wealth management based on a microservices architecture, leveraging cloud native capabilities. This will help the bank deliver customer-centric solutions, and enhance scalability and resilience.
“The solution’s rich APIs and orchestration capabilities will help the bank integrate larger ecosystems into their core processes and improve time-to-market for innovative new offerings.”