Continued Evolution with Leading Swiss Bank
PostFinance , Switzerland , a flagship customer of TCS BaNCS running core banking , payments , equities and fund order management components from the product suite , was in the midst of implementing critical evolutions from TCS BaNCS just when the global pandemic hit and national lockdowns were enforced almost overnight .
Leveraging the TCS ’ Secure Borderless Workspaces initiative SBWS infrastructure and PostFinance ’ s own remote working processes , TCS and PostFinance teams continued to work closely without disruption .
In May 2020 , the TCS BaNCS team introduced new features ranging from investment products to Smart Order Routing ( SOR ), allowing the Bank to route orders to the right exchange , offering the best execution price for its customers . This was followed by another critical evolution in July 2020 , when the Bank was able to launch the QR-Bill project with the aim of modernizing payment transactions in Switzerland on time . The QR-bill is intended to replace multiplicity of payment slips in the country , thereby increasing efficiency and simplifying payment traffic .
And most prominently , the Bank has been running a mission-critical project to upgrade the TCS BaNCS Global Banking Platform for its core banking components , which was set to be completed in October 2020 . With continuous support from TCS BaNCS teams in Switzerland and India , the project went off successfully as per the plan in the third week of October 2020 .
Go-Live in Bahrain
TCS BaNCS teams worked with a leading market player in the insurance space in Bahrain and went live successfully with TCS BaNCS for Insurance , right in the middle of the uncertain COVID-19 scenario in April 2020 . This was achieved with close collaboration and detailed planning between the customer and TCS BaNCS teams .
Enabling Loan Relief in South Asia
A leading Bank in South Asia needed pressing changes to be made to its loan portfolio as part of a governmental relief program . TCS BaNCS teams worked against aggressive timelines to provision for repayment holidays , temporarily suspend the tracking of non-performing assets , launch new loan products , and generate reports for regulatory compliance . l
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