CTBC Bank selects TCS BaNCS platform

India’s top software company, Tata Consultancy Services (TCS) announced that the company BaNCS platform was selected by the Chinatrust Commercial Bank (CTBC) Taiwan to transform and enhance customer experience.

CTBC, a leading securities services provider in Taiwan with over US550 billion assets under custody, selected TCS BaNCS to consolidate its fragmented IT landscape and transform its legacy systems to a modern platform, the company informed on Friday. TCS BaNCS' multi-entity, multi-currency and multi-market capabilities spanning the complete value chain for settlements, asset servicing, cash, and pricing services on a single platform, will help CTBC standardise and integrate operations between the bank's Taiwan and Hong Kong businesses, thereby laying a strong and sustainable foundation for future growth and expansion.

A part of Tata group, TCS employs more than 4,00,000 of the worlds best trained consultants in 46 countries. The company generated consolidated revenues of US$19.09 billion for year ended March 31, 2018. For quarter ended June 30, 2018, the company posted consolidated revenue of Rs. 34,261 crore as against Rs. 29,584 YoY. TCS’s net profit for the period was Rs. 7,362 crore.

On Friday, the stock closed at Rs. 2,051.45 per share on BSE. The benchmark index BSE Sensex ended trading session with gains of 177.51 points at 38,862.23.