Venkateshwaran Srinivasan, Head, TCS Financial Solutions

Tata Consultancy Services has announced that the Chinese commercial bank, Harbin Bank, has successfully implemented TCS BaNCS for Core Banking, in a bid to achieve business transformation and growth across new markets.

According to the supplier, the core banking solution is expected to benefit the bank in the integration of real-time information and enhancement of the omnichannel experience for the customers. The integration will provide Harbin with faster processing times, integrated credit limits, daily revaluation capabilities and an upgraded risk management system.

“We selected TCS BaNCS for its established track record in core banking transformations in China as well as the product’s scalability, configurability and robustness. We were confident that TCS is the most reliable partner for our long-term expansion plans into emerging markets in Asia and beyond,” said Guo Zhiping, Chairman, Harbin Bank.“The solution was deployed in record time and is now acting as a firm foundational base for us to achieve our strategic mission of establishing ourselves as a first-class bank offering quality and differentiated experiences and solutions. The TCS BaNCS solution has already improved our time-to-market for new and innovative products.”

The transformation program, that was completed in the middle of 2018, now has TCS BaNCS’ solution is currently used across 593 of Harbin Bank’s branches.

“Harbin Bank’s transformation powered by TCS BaNCS is demonstrative of TCS’ Business 4.0TM vision to help customers transform their businesses and extend their reach to larger, digitally-enabled and collaborative ecosystems,” said Venkateshwaran Srinivasan, Head, TCS Financial Solutions.“Proven transformational methodologies, and strong program governance coupled with strong executive sponsorship from the Bank, ensured the timely delivery of the solution. The functional breadth and depth of the TCS BaNCS solution will ensure that Harbin Bank is able to establish its leadership as a strong digital brand internationally.”

Founded in 1997 and headquartered in Harbin(China), Harbin Bank is a share-holding commercial bank with activities consisting of loans for small and medium-sized enterprises (SME), deposits in domestic currencies, including checking accounts, savings accounts, portfolio management, foreign exchanges, and electronic banking services.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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