Chinese bank selects TCS solution

Tata Consultancy Services on Monday said China's Hua Xia Bank has selected its core banking solution of Financial Network Services to facilitate the bank's technology-powered business transformation.

"The Bancs solution, which includes deposit and loans, domestic and international payments, treasury management, corporate accounting and a multi-channel front-end solution for tellers and customers is designed to enable HXB to manage all transactions through the one integrated solution," TCS said.

The software would help HXB streamline its operations, better manage costs, increase profitability and reduce operational risk, it said.

As part of its standard core banking software for HXB, TCS-FNS would incorporate localised functionality specific to deposits and loans in China, it said. The Bancs solution would also enable HXB to more effectively satisfy the demands of China's banking industry laws and regulations, it added.

TCS in November last year had acquired Sydney-based FNS for $26 million.