CBA goes live on TCS banking solutions platform in India

MUMBAI: Tata Consultancy Services on Thursday said Commonwealth Bank of Australia (CBA) has gone live on its banking solution platform in the country.

"CBA was looking for an India ready IT solution that could be delivered quickly in a country where CBA had no existing IT team," Commonwealth Bank CIO International Financial Services David Boyle said in a statement in Mumbai.

He said this partnership with TCS has enabled the bank to launch quickly and the TCS BaNCS platform supports the CBA products which is beyond basic loans and deposits and included trade finance, remittance and foreign exchange services.

CBA had obtained banking licence in June 2009 in India and went live in April this year. The full branch opening was in August with a comprehensive bank-in-box solution provided by TCS.

"TCS BaNCS is the number one banking solution in the country. Our track record enabled CBA select a tried
and trusted banking platform," TCS Financial Solutions president Subramaniam said.