Tata Consultancy Services (TCS) announced today that its client, Cathay United Bank, a full-service bank in Taiwan, and TCS BaNCS have won The Asian Banker's prestigious Best Core Banking Implementation Award for Medium-sized Banks as well as the Overall Best Core Banking Implementation Award.
KT Chang, chief information officer at Cathay United Bank, said: "With over 160 domestic branches live on TCS BaNCS Core Banking solution, Cathay United Bank required a world-class system that would assist to reduce system maintenance costs, reinforce operational security, improve real-time management information, accelerate product development as well as speed up transaction times. TCS BaNCS is an outstanding solution. Our team is proud to be awarded the Overall Best Core Banking Implementation Award as well as the Best Core Banking Implementation Award for Medium-sized Banks with our trusted partner, Tata Consultancy Services."
NG Subramaniam, president, TCS Financial Solutions, said: "We are delighted to share these two Core Banking implementation awards with Cathay United Bank. This award-winning core banking transformation program highlights our growing success in the Greater China region. Cathay United Bank needed a solution with demonstrated scalability that could provide online, real-time transaction processing. TCS BaNCS' advanced system architecture also allowed CUB to work across database platforms and operating systems, enabling CUB to experience maximum flexibility in deployment options whilst lowering its total cost of ownership."
With the TCS BaNCS Core Banking solution, Cathay United Bank has now achieved a 99.9% uptime. Cathay United Bank now takes 30% to 40% less time to develop and launch new products and 20% to 30% less time to implement new system functionality. Supported by the new 24/7 real-time system, delivery channels like call centers and the internet can handle real-time transactions 24 hours a day. Growth rates at CUB have also improved greatly. TCS BaNCS Core Banking solution also acts in accordance with a full range of local regulatory compliance requirements across the Greater China region.