TCS launches TCS BaNCS Core Banking Version 12

21 Sep 2011

Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions organization, has launched TCS BaNCS Core Banking Release 12.0 at the annual flagship event for banking and capital markets, SIBOS 2011, in Toronto. This version continues to build on the industry’s leading functionality, flexibility and scalability for which the product has come to be associated globally.

The new version comes with many enhancements, out of which notable include, advanced multi-entity support allowing a single installation of TCS BaNCS to support a customer’s establishments across geographies, providing cross-entity customer transactions with configurable business restrictions; extensibility enhancements providing user configurable exit points; IFRS reporting engine, designed to perform calculations for effective interest rates, fair valuation on estimated and contracted cash flows, impairment of assets, etc.

There are over 50 enhancements in addition to spanning syndication, project and contract finance and membership module for credit unions. The data archival module has been enhanced to allow the use of certified third-party archival tools in addition to the in-built mechanisms. TCS BaNCS Core Banking solution continues to be available with a rich choice of channel solutions covering branch user, Internet, mobile and origination.

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS.

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