Context:
- Partnership Renewal: Tata Consultancy Services (TCS) has extended its 25-year collaboration with Khan Bank, one of Mongolia’s largest commercial banks.
- Objective: Deployment of TCS BaNCS Global Banking Platform (GBP) to overhaul the bank’s legacy core banking system and accelerate digital transformation.
Why This Is Significant
- Digital Core Modernization: Upgrading the core banking platform is critical for:
- Reducing operational inefficiencies
- Integrating siloed systems (like CIF, trade finance, treasury)
- Enabling scalable and real-time banking
- Customer Reach: Khan Bank serves 82% of Mongolia’s population, making this transformation vital for national-level financial inclusion and digital accessibility.
Key Capabilities Introduced via TCS BaNCS
- Comprehensive Module Integration:
- Customer Information File (CIF)
- Trade Finance and Treasury
- International Payments
- Retail Lending & Deposits
- Treasury Modernization: A consolidated platform for treasury management to support various asset classes, with features like:
- Real-time monitoring
- Risk exposure analysis
- Advanced analytics-based reporting
BS
