The integrated banking suite a market-ready, component-based, customer-centric, real-time offering and comprises of payments, core banking, and securities processing for funds administration and compliance for fraud detection solutions.
As part of PostFinance’s modernization drive, the new TCS suite will replace the current legacy payment transactions and accounts management systems.
TCS BaNCS is expected to enable PostFinance in flexible development and the adaptability to meet current and future market needs as well as regulatory requirements.
The application components to be deployed in the solution are multi-entity and multi-currency, covering accounts management, payments – domestic and international including credit transfers and direct debit along with market connectivity to domestic clearing in Switzerland, Pan European clear with SEPA and international payment on SWIFT.
The IT services firm said the entire modernisation programme will be accomplished over the next four years.
PostFinance head of Information Technology Enrico Lardelli said TCS BaNCS is a modular, highly configurable system, which meets their high performance requirements.
"We also chose TCS BaNCS because of its best value ratio and the short migration strategy. In short, TCS BaNCS is the most attractive economic option for PostFinance," he added.
TCS Financial Solutions president NG Subramaniam said through this implementation, PostFinance will meet the varied needs of a growing and diverse customer base.
