Taiwan-based CTBC Bank selects TCS BaNCS for Custody

R Vivekanand, VP and Co-Head, TCS Financial Solutions

Chinatrust Commercial Bank (CTBC) Taiwan has selected TCS BaNCS for Custody in a bid to transform its operations and enhance its customer experience.

According to the supplier, the bank chose TCS BaNCS‘ solution in order to transform its legacy systems to a modern platform and utilize the supplier’s market capabilities to integrate operations between its Taiwan and Hong Kong businesses.

Speaking on the selection of TCS BaNCS, Frank Shih, Executive Vice-President and Group Head, CTBC, said, “With our stated aim of becoming a ‘Taiwan Champion – Asia Leader’, we have envisioned our technology program to help raise customer service experience levels to the highest global standards even as we continue to accelerate growth initiatives in the Asia Pacific (Hong Kong and Taiwan) and other markets. 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.”

The supplier states that TCS BaNCS for Custody includes real-time processing and APIs with cognitive features such as chat bots, AI, analytics. The solution is further enhanced by digital information extraction toolkit that can help mine information from documents to capture corporate action announcements and proxy voting.

“TCS BaNCS is helping customers become smarter and more agile, giving them a competitive edge in a Business 4.0 world,” said R Vivekanand, Vice-President and Co-Head, TCS Financial Solutions. “TCS BaNCS is a global leader in the post-trade custody, clearing and settlement space. The solution will future-proof CTBC’s technology roadmap, bring in the latest global standards and regional functionality for Asia, and help CTBC unify heterogeneous markets.”

Founded in 1966, ChinaTrust Commercial Bank is a privately owned bank in Taiwan with 152 branches in Taiwan and 111 overseas outlets.

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