Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

KGI Bank Prepares for its Next Phase of Growth with TCS BaNCS

Posted On: 2019-06-18 11:32:04

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that its customer, KGI Bank in Taiwan, has successfully deployed TCS BaNCS for its corporate and consumer banking operations, creating a strong foundation 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, modern, 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.

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 o 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. With TCS, we believe that we hove selected the most reliable partner for our long-term expansion into the Asia-Pacific region and beyond."

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 o future-ready organization and expand into the Asia-Pacific markets. By empowering its digital initiatives ond significantly improving time to market, this deployment of TCS BaNCS as 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 helps banks and financial institutions cater to customer needs throughout their life journeys, based on anticipated requirements and over the devices of their choice. Designed on the Digital First, Cloud First philosophy, the solution comes 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 seamlessly, laying the framework for both digital and analytics preparedness. It supports a variety of products and services covering assets and liabilities and can fit the business and operating model of a bank with an assured 24x7x365 availability, as evidenced at the 450 sites where it is installed successfully.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2245.6 as compared to the previous close of Rs. 2252.3. The total number of shares traded during the day was 107409 in over 3347 trades.

The stock hit an intraday high of Rs. 2262.8 and intraday low of 2240.05. The net turnover during the day was Rs. 241706855.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Granules India Limited receives US FDA approval for Fexofenadine Hydrochloride Tablets

Onmobile enters into partnership with Bharti Airtel to power games on Thanks App

Oberoi Realty Ltd consolidated Q2 net profit slips to Rs.138.07 crore

Subscriber base of RIL's Digital Services Business at 355.2 million as of Sep 30, 2019

Sasken Technologies Ltd reports consolidated EPS of Rs. 13.34 in Q2 FY 2019-20

RIL's Media Business reports robust growth in subscription income

HDFC Bank Limited announces Q2 FY2019-20 results

RIL's revenue from Organized Retail Business up 27% YoY to Rs. 41202 crore in Q2

DCB Bank announces Second Quarter FY 2020 Results

RIL's revenue from Oil and Gas Business declines to Rs. 790 crore in Q2

Cementing a Green Future

RIL's Petrochemicals Business Q2 revenue down 11.9% YoY

Siyaram Silk Mills Ltd Board declares Interim Dividend, onetime special dividend

HDB Financial Services Ltd posts net profit of Rs. 213 crore in Q2

HDFC Securities Limited Q2 PAT at Rs. 91 crore

ICRA reaffirms long term rating of Shalby Limited

Brickwork Ratings reaffirms ratings of Oriental Bank of Commerce

Brickwork Ratings updates on credit ratings of Aarvee Denims & Exports Ltd

ICRA retains credit rating of Z F Steering Gear India Ltd

Shiva Cement Ltd Q2 loss at Rs. 6.22 crore

Bhansali Engineering Polymers Ltd Q2 consolidated net profit at Rs. 20.36 crores

Dalmia Bharat Ltd posts consolidated PAT of Rs. 36 crore in Q2

Siyaram Silk Mills Ltd consolidated Q2 net profit climbs to Rs. 29.31 crore

Avanti Feeds Ltd Q2 consolidated PAT rises to Rs. 118.69 crores

DCB Bank Limited posts net profit of Rs. 91.41 crores in Q2 FY 2019-20

LIC Housing Finance Ltd Q2 consolidated PAT higher at Rs. 768.05 crores

HDFC Bank Ltd reports consolidated Q2 PAT of Rs. 6638.03 crores

Aro Granite Industries Ltd posts slump in Q2 net profit

Jasch Industries Ltd Q2 loss at Rs. 0.60 crore

Chembond Chemicals Ltd consolidated Q2 net profit slides to Rs. 1.52 crore

Shree Cement Ltd consolidated Q2 net profit at Rs. 310.62 crores

Smruthi Organics Ltd Q2 PAT at Rs. 1.89 crore

Menon Bearings Ltd Q2 PAT falls to Rs. 2.93 crore

Pioneer Distilleries Ltd Q2 loss at Rs. 19.91 crore

VTM Ltd reports net profit of Rs. 4.33 crore in Q2 FY 2019-20

National Plastic Technologies Ltd Q2 PAT climbs to Rs. 0.59 crore

RMC Switchgears Ltd is participating in ACETECH - Bengaluru 2019

3P Land Holdings Ltd posts net profit of Rs. 0.22 crore in Q2

RIL's GRM for Q2 stood at $ 9.4/bbl

Mr. Abhishek Sinha appointed as COO & Whole-Time Director of L&T Technology Services Limited

RIL consolidated Q2 PAT at Rs. 11262 crore

L&T Finance Holdings Ltd announces Q2 FY 2019-20 results

L&T Technology Services continues double-digit revenue growth in Q2FY20

Maruti Suzuki India Ltd announces introduction of Regulatory Compliant EECO

ICICI Lombard General Insurance Company Limited announces Q2 FY 2019-20 results

CARE updates on ratings of Indiabulls Housing Finance Ltd

Ambuja Cements Ltd announces Q3 CY2019 results

Digital & Consumer Electronics Brand - Xmate disrupts the Indian market by launching an extensive product portfolio

Brickwork Ratings reaffirms ratings of Punjab National Bank

L&T Technology Services Ltd Board approves Dividend of Rs. 7.50 for 2019-20







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019