Guangdong Rural Credit Union (GDRCU), a China-based credit union, has deployed TCS BaNCS Core Banking solution from TCS Financial Solutions, a business unit of Tata Consultancy Services (TCS) and a provider of business application solutions to banking, insurance and capital markets industries.
TCS BaNCS Core Banking is an integrated solution that automates all aspects of core banking operations across entities, languages and currencies. The solution combines front, middle and back-office processes in real-time, providing timely and actionable information about customer relationships.
The system covers various financial products including savings accounts, checking accounts, overdraft accounts, term deposit accounts and a various lending products including personal loans, corporate loans and mortgages.
In addition, TCS BaNCS Core Banking covers a range of transactional services incorporating remittances, foreign exchange, drafts, bank cheques, cards and trade finance. These services are accessible through multiple channels, from the branch to the call center, mobile banking and the internet.
Zhang Xuejun, general manager of IT consolidation office at GDRCU, said: “TCS BaNCS new generation core banking system will definitely assist GDRCU to drive financial product innovation, improve risk prevention and strengthen revenue growth. TCS BaNCS system has taken a strong position to support China’s financial business market and is totally adaptable to China’s domestic banking requirements.”
Brent Zhu, head of TCS Financial Solutions China, said: “GDRCU is the third financial institution in China that has gone live with TCS BaNCS core banking solution. TCS’ skilled team of local and international IT transformation experts implemented this project in a span of 24 months. With a proven Chinese interface and outstanding processing performance, TCS BaNCS core banking solution is the tried and trusted leader in the market.”
