TCS reports Russian bank deal
01 May 2007 | 5266 views | 0
India's Tata Consultancy Services (TCS) is reporting a multi-million dollar contract with Russia's BIN Bank for the supply and implementation of its core banking platform, Bancs.
The Russian bank will replace its core banking system with Bancs modules for retail, trade, treasury, deposits, loans, payments, cards and branch delivery.
TCS says the technology will enable the bank to provide 24/7 online, real time transaction processing and reporting across multiple channels.
Mikhail Shishkhanov, president, BIN Bank, says: "This core banking initiative is a critical component of our business strategy as we continue to maximise new product development initiatives and bank profitability."
N Ganapathy Subramaniam, head of banking practice at TCS, says the BIN Bank deal is the vendor's first in the Russian Federation and is part of long term growth plans in the region.