CTBC Bank in banking and wealth management tech revamp with TCS Bancs
Taiwan-based CTBC Bank is revamping its retail and corporate banking and wealth management with Tata Consultancy Services (TCS) and its flagship TCS Bancs core banking system.
CTBC Bank in tech revamp with TCS
The new core banking system will support loans, deposits, international and domestic remittances, payments/collection, facility limits and collaterals, and “support the bank’s growth aspirations over the next decade”, the banking tech vendor says.
Established in 1966 and with far reaching presence both domestically and internationally (including Tokyo Star Bank in Japan), CTBC Bank relies on a variety of legacy systems, including Oracle’s Flexcube, Infosys Finacle, and TCS Bancs, among others, FinTech Futures understands.
“Our bank has grown to play a significant role at the forefront of Taiwan’s financial services industry, with a proud history of many firsts,” says Titan Chia, chief technology officer (CTO) of CTBC Bank Taiwan.
“We selected TCS Bancs for our digital transformation initiatives and to help differentiate our offerings by providing contextual, innovative solutions across banking and wealth management.
TCS Bancs’ cloud native solutions will help simplify our IT landscape, spanning consumer, corporate banking, and trade finance in alignment with our vision for a tiered architecture through front-end agile delivery, and mid-platform shareable modules backed by an intelligent digital core.”
Recently, CTBC also signed with Swiss banking tech vendor Avaloq to provide core banking software for its international banking operations.
Meanwhile, another of TCS’s rivals in the core banking space, Temenos, scored two deals in Taiwan of late, with Next Bank and Shanghai Commercial & Savings Bank (SCSB).
