TCS Financial Solutions, a strategic business unit of Tata Consultancy Services (TCS), announced today that it's client Hua Xia Bank (HXB), China and TCS have won The Asian Banker's prestigious Best Core Banking IT Implementation Award.
TCS is engaged in providing business application solutions to the banking, insurance and capital markets industries in several countries across the world, a company release said.
"Our team is delighted to win this prestigious award. The key design concept of HXB new core banking system is to be "customer centric", Jian Wu, chairman of board of directors of HXB, said.
"This design allows us to set up different process flows to differentiate customers, business risks, and to identify high quality corporate clients so that the bank can provide more detailed and additional services to our key customers," he said, adding, "TCS BaNCS Core Banking has laid a strong foundation to enhance our management systems and create a centralised 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."
Hua Xia Bank has recently increased its network of branches across China. It has now over 335 outlets and approximately 1,290 overseas correspondent banks positioned around the world.
"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," Brent Zhu, head of TCS Financial Solutions China said.
TCS BaNCS has 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 bank's new customer information file, deposits, loans, payments, cards and telling system.
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 centralise the management of its back office operations.