TCS BaNCS

BαNCS
Original author(s) Financial Network Services
Developer(s) Tata Consultancy Services
Initial release 1983 (1983)
Stable release
10.0 / 2014 SEP (2014 SEP)
Written in Java
Operating system Cross-platform
Type Banking and financial suite
Website www.tcs.com/offerings/bancs/Pages/default.aspx

TCS BaNCS is a core banking software suite developed by Tata Consultancy Services for use by retail banks.[1]

It includes functions for universal banking, core banking, payments, wealth management, forex and money markets, compliance, insurance, securities processing, custody, financial inclusion, Islamic banking and treasury operations. There are also modules that deal with capital markets and the insurance business.

DLF Pramerica Life Insurance Company India Limited (DPLI), is using TCS BaNCS to meet their financial services. In August 2013, TCS deployed its core banking solution at Panzhihua (PZH) Commercial Bank, making it the first Chinese city commercial bank to use the TCS BaNCS solution.[2][3]

History

Prior to the corporate takeover by TCS, BaNCS was developed at the headquarters of Financial Network Services Pty (FNS) in the Systems Development Office under control of the Base Version Office, at 70 Rosehill Street, Redfern, Sydney, New South Wales, Australia. Versions 1 through to 7.4 were developed by FNS. Satellite functionality was integrated into the Base Software in sub-versions from customer sites via the Redfern Projects Office.

Two major branches were developed using elements from version 2 through 4 of the core. It was initially based on the AT&T NCR 9800 series mainframe architecture - creating a UNIX and an NT/Windows Server branch. The COBOL source code was interchangeable, but software interfacing with the OS, such as transaction queues, differed in order to handle the various implementations written in C and linked into the Microfocus COBOL runtime system-linked object. Scripting varied across branches to handle operations and non-functional requirements.

Major versions featured multi-currency (with spot positions) and multi-language functionality. To cater for this, various front-ends were created such as BTM (Branch Terminal Manager), Branch 2000 and BEAM-handled transactions from tellers.

Major version 6 included three back-end database technologies: Oracle, Informix and DB2. The UNIX OS was implemented on HP-UX, IBM AIX and AT&T NCR System V UNIX variants. ksh (Korn Shell) was the primary script language.

Version 7.5 and onward was developed in COBOL by the Tata Consultancy Services business unit TCS Financial Solutions.[4]

Software products

BaNCS offers a suite of products, periodically evaluated by independent research firms such as Forrester. [5] The list of products include:

  • Core Banking Solution (CBS)
  • Internet Banking Solution
  • Treasury Solution
  • Wealth Management Solution
  • TCS BaNCS Payments Engine
  • Securities Processing
  • Mobile Banking Solution
  • BaNCS Custody
  • Corporate Actions
  • BaNCS Digital
  • Money Markets & Forex (MMFX)
  • BaNCS Insurance
  • Branch Channel
  • Cheque Book

See also

  • MasterCraft (TCS product)

References

  1. ↑ http://www.thehindubusinessline.com/features/weekend-life/banking-on-it/article4924607.ece
  2. ↑ http://economictimes.indiatimes.com/tech/ites/tcs-deploys-its-core-banking-solutions-for-chinese-bank/articleshow/21674694.cms
  3. ↑ http://www.rttnews.com/2167790/tcs-deploys-bancs-solution-at-china-s-panzhihua-commercial-bank-in-record-time.aspx?type=in
  4. ↑ http://www.tcs.com/offerings/bancs/about_tcs/Pages/default.aspx
  5. ↑ http://www.forrester.com/pimages/rws/reprints/document/113344/oid/1-O2KDYV
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