TCs ties up with BIN Bank

Kolkata, Apr 30 (UNI) Tata Consultancy Services(TCS), a leading IT services consulting, today announced that its subsidiary FNS has signed a multi-million dollar agreement to supply 'BANCS', a core banking software to Russian Federation based BIN BANK.

A company release here said BIN BANK would replace its core banking system with BANCS modules for retail, trade, treasury, deposits, loans, payments, cards, and branch delivery to provide online, real time transaction processing and reporting across multiple channels in a 24/7 environment.

The bank is a leader in achieving superior customer service for its clients via the adoption of innovative banking technology. The banks network includes over 18 retail branches in Moscow, 21 regional branches and 15 representative offices throughout the Russian Federation.

BIN BANK has a growing network of 26,500 corporate customers and a retail customer base of 139,000. The banks modern banking portfolio comprises over 2,490 ATMs, 32 self-service terminals.

''Technology is the underlying foundation that empowers a modern financial institution like BIN BANK to be successful. This core banking initiative is a critical component of our business strategy as we continue to maximise new product development initiatives and bank profitability,'' President of B.I.N.BANK Mikhail O. Shishkhanov said.

''By leveraging our in-depth knowledge of core banking, clients such as BIN BANK can experience certainty in achieving operational efficiency from BANCS software solution,'' N Ganapathy Subramaniam, Head of Banking Practice at Tata Consultancy Services said.

UNI