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Press Release
Published March 09, 2018
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Hunan Rural Credit Union, China transforms customer banking experience with TCS BaNCS

Date: March 09, 2018
Categories: Capital & Strategic Issues, fi, Foreign Direct Investment, Innovation, retail
Keywords: Tata Consultancy, Hanan Rural Credit Union

Tata Consultancy Services (TCS) a global IT services, consulting and business solutions organization, announced that its flagship product TCS BaNCS has gone live in Hunan Rural Credit Union (HNRCC) in Hunan Province located in Central China. This go-live expands TCS BaNCS’ footprint in China with three other large credit unions that are already fully operational in addition to 20 other financial institutions including one of the largest Banks in the country. HNRCC is the largest bank in the Hunan Province (4,207 branches) and consists of 126 legal credit unions, 6 million individual & Cooperative customers, exceeding 120 million accounts. The modernization project which commenced in May 2015, was geared to achieve growth and profitability by consolidating its distributed and decentralized branch infrastructure, software and operations.

Commenting on the momentous occasion, Mr. Zhang Zhijun the Chairman of Hunan Rural Credit Cooperative Union, said “Our vision to drive innovation and growth has been jump-started by this implementation of TCS BaNCS. The platform functionality is robust and is totally adaptable, especially to our complex credit Cooperative domestic banking requirements. With a proven and extensive track record of customers in China, TCS demonstrated their delivery capability again with this go-live, ahead of a pressing schedule.”

Venkateshwaran Srinivasan, Head - TCS Financial Solutions said, “ We are proud of this go-live at HNRCC. This is a big proof point of the robustness of our implementation methodology, the high degree of out-of-the-box readiness which TCS BaNCS brings to our customers and the inherent scalability of our solution. The ability to roll out new and innovative offerings at a faster clip, easier digital outreach to consumers and operational consolidation are just three of the key benefits this program delivers to HNRCC. ”

Re-disseminated by The Asian Banker