Tata Consultancy Services’ customer - Shanghai Rural Commercial Bank (SRCB), and TCS Financial Solutions have won the China Retail Financial Services Awards for 2014 for China Best Core banking Implementation from The Asian Banker.
TCS BaNCS has won The Asian Banker Award in China for three years in a row now and has been deployed across 16 banks in China. This award exemplifies the strengths of TCS BaNCS for core banking and its track record of achieving 100% successful deployments in China.
The core banking project at SRCB was completed in a span of three years and is expected to help the bank save RMB 1.4 billion in the form of both cost reduction and high availability. The bank, since the TCS BaNCS solution went operational six months back, has been able to double the average daily transaction volumes. The new core banking system adopts a model of a thin core, big peripheral system approach in its application system architecture, covering 88 core accounting and peripheral systems at the bank.