TCS BaNCS Powers payments transformation at Banque Saudi Fransi

TCS BaNCS Powers payments transformation at Banque Saudi Fransi

RIYADH | MUMBAI: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced that its customer, Banque Saudi Fransi (BSF), has successfully transformed its domestic and international real-time payments processing using TCS BaNCS™ for Payments. This represents a key milestone in the bank’s digital transformation and core banking modernization program. BSF, one of the leading banks in the Kingdom of Saudi Arabia (KSA), selected TCS BaNCS to simplify and digitize its IT landscape across deposits, lending and payments, and enhance its position as a modern, innovative and experience-focused bank in the region. As part of this transformation, the bank leveraged TCS BaNCS for Payments to centralize and standardize its operations across domestic and international payments. With data centralized and secure in the new system, the bank can pre-validate transactions in real-time, nearly doubling the straight-through-processing rate and speeding up transactions. The TCS BaNCS solution’s microservices architecture is helping the bank provide real-time, frictionless payment services to its clients and scale systems to match increasing transaction volumes in an economy that works round the clock, all year round. A large repository of out-of-the-box APIs can be exposed to third-party providers, strengthening BSF’s strategy to be a local leader in open banking and