TCS, Chinese bank win banking award

by CXOtoday Staff    Apr 29, 2010

TCS Financial Solutions and it’s client Hua Xia Bank (HXB), China have jointly won The Asian Banker’s Best Core Banking IT Implementation Award.

TCS BaNCS had assisted Hua Xia Bank to attain a consistent user experience and employee interface from one branch to the next, providing a 360 degree view of customer activities across all lines of the business and access channels. The core banking implementation covers the banks new customer information file, deposits, loans, payments, cards and telling system.

"TCS BaNCS Core Banking has laid a strong foundation to enhance our management systems and create a centralized operating platform. In addition, this system improves new business development and assists to speed up the bank’s expansion plans.  HXB has become the first publicly traded domestic commercial bank that has introduced an advanced foreign core banking system in China," said Jian Wu, chairman of board of directors of HXB.

TCS BaNCS provides highly scalable architecture that supports HXB branches across different time zones, currencies and languages. The Core Banking solution also enables the banks processing center to centralize the management of its back office operations. This assists to separate the bank’s front and back-end business processes and reduce costs. In addition, the solution provides a swift and powerful capability to setup financial products in the system. This powerful solution has drastically reduced product development cycle time and has speed up the time to launch new financial products into the market.

"Hua Xia Bank has recently increased its network of branches across China. With over 335 outlets and approximately 1290 overseas correspondent banks positioned around the world Hua Xia Bank needed a solution that would be able to maximize operational efficiency and drive revenue growth. This Core Banking implementation award firmly positions TCS BaNCS at the pinnacle of Core Banking in China. I would like to thank The Asian Banker, TCS staff and the Hua Xia Bank team for their world-class Core Banking system delivery expertise. TCS BaNCS continues to scale to great heights," said Brent Zhu, Head of TCS Financial Solutions China.