TCS ties up with Universal KUBE to sell BaNCS in Russian market
Monday, 23rd May 2011
Universal KUBE, Moscow, announced a joint partnership with Tata Consultancy Services, a leading IT services, business solutions and outsourcing organization, in Russia, Ukraine and the Republic of Belarus, for the TCS BaNCS universal banking product suite. With this alliance, the TCS BaNCS product suite will be offered to banks in the region as a high-performance solution for Commercial Banks, Retail Banks and Universal Banks.
In the past two years, the two organizations have worked together on localizing the TCS BaNCS Core Banking product for the Russian market. A successful implementation at B&N Bank, one of the top 50 Russian banks, is testimony to this fact. During the localization process, TCS BaNCS was enhanced to support Russian accounting standards, real-time integration with the national payment system, comply with regulatory reporting and other country-specific accounting and back-office business processes. The TCS BaNCS implementation at B&N supports a wide range of banking products such as consumer finance, mortgages, auto finance, credit cards, deposits, settlement and cash services, corporate banking, SMB (small and medium business) products, among others.
Sergey Vikhrov - CEO, Universal KUBE, stated, "TCS has architected the TCS BaNCS suite for universal financial solutions, embedding the interactive, intuitive and instantaneous nature of the emerging business of financial services, coupled with service orientation to empower any financial institution's proprietary needs."
N. Ganapathy Subramaniam - President, TCS Financial Solutions, emphasized that, "Having over 260 installations, across 80 countries, TCS BaNCS enables transformation in financial services through its holistic suite of solutions. Universal KUBE Inc. possesses a unique competence in the implementation and support of banking platforms, and comes with an excellent working knowledge of the TCS BaNCS universal banking product suite. We expect increased demand for our products from the financial institutions in Russia, Ukraine and Republic of Belarus in the near future."
The award-winning, TCS BaNCS product suite for banking, capital markets and insurance is realized on the plug and play, component-based platform. It consistently turns in impressive benchmark results with a fine-tuned, highly scalable technology architecture that supports financial institutions with the highest capacities for transaction volumes, peak transactions per second, and transaction history size.
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