TCS BaNCS

Last updated

TCS BaNCS
Original author(s) Financial Network Services
Developer(s) Tata Consultancy Services
Initial release1983 (1983)
Stable release
14.0 / 2019;5 years ago (2019)
Written in Java [1]
Operating system Cross-platform
Type Banking software
Website https://www.tcs.com/bancs

TCS BaNCS is a core banking software suite developed by Tata Consultancy Services for use by retail banks. [2]

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. The suite of products is periodically evaluated by independent research firms such as Forrester. [3]

History

Prior to the corporate takeover by TCS, the BaNCS software was developed at the headquarters of Financial Network Services Pty (FNS) in Sydney Australia. First implemented into local Australian and New Zealand banks and credit unions throughout the late 1970s and into the 1980s the demand from overseas markets grew substantially looking for automation and consolidation of disparate systems. Project sites across Asia, Middle East and Nordic countries led to multiple versions being developed in different geographies. In the mid 1980s the software came under the control of the Systems Development Office at 70 Rosehill Street, Redfern in Sydney. Base versions from 1.0 through to 7.6 were developed by FNS. Various region specific business rules were designed and integrated with parameterised functionality into the Base Software in sub-versions from customer sites via the Redfern Development Office.

Two major branches were existed from version 2 through 4 of the core. Initially based on AT&T/NCR 9800 series mainframe architecture - platform versions were created for UNIX and later (from version 4 onwards) on NT/Windows Server. The core applications COBOL source code was interchangeable, but interfacing software, such as API gateways, transaction queues and data storage differed to cater for the platform and database choices demanded from customers. The core application is written in C and linked to the Microfocus COBOL runtime system-linked objects. Scripting varied across branches to handle technical operations and non-functional requirements.

Major versions featured multi-currency (with spot positions), multi-language and some multi-entity functionality. To cater for this, various front-ends were created such as BTM (Branch Terminal Manager) application, a web based teller system (BANCSLink) and BEAM-handled transactions from tellers. ATM and POS switch and card management (Telepac) modules were also built out extensively in the 1980s in line with the increasing reliance on debit and credit cards globally at the time

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

In the 1990s and 2000s, Internet Banking (BANCS Connect), Treasury, FX/MM, Trade Finance were also developed with multiple client sites supported and upgraded onto later versions as the software matured and customers reaped benefits of further functionality

Version 7.6 and onward was developed in COBOL by the Tata Consultancy Services business unit TCS Financial Solutions. [4]

TCS furthermore re-wrote the base application in JAVA to cater for the limited supply of COBOL software engineers into the 2000s

Notable client implementations included a Australia and New Zealand tier 2 banks and credit unions, Tier 1 banks in South Korea, Taiwan and China, State Bank of India and large nationwide banks in India, National Bank of Kuwait, and multiple banks in Saudi Arabia, North and South Africa. A partnership with Telenor Novit existed throughout the 1980s and 1990ms that powered multiple Scandinavian banks as well.

In August 2013, Panzhihua (PZH) Commercial Bank started using the software, making it the first Chinese city commercial bank to use the TCS BaNCS solution. [5] [6]

Related Research Articles

<span class="mw-page-title-main">MVS</span> Operating system for IBM mainframes

Multiple Virtual Storage, more commonly called MVS, is the most commonly used operating system on the System/370, System/390 and IBM Z IBM mainframe computers. IBM developed MVS, along with OS/VS1 and SVS, as a successor to OS/360. It is unrelated to IBM's other mainframe operating system lines, e.g., VSE, VM, TPF.

In computing, cross-platform software is computer software that is designed to work in several computing platforms. Some cross-platform software requires a separate build for each platform, but some can be directly run on any platform without special preparation, being written in an interpreted language or compiled to portable bytecode for which the interpreters or run-time packages are common or standard components of all supported platforms.

<span class="mw-page-title-main">Data General</span> Minicomputer manufacturer, 1968–1999

Data General Corporation was one of the first minicomputer firms of the late 1960s. Three of the four founders were former employees of Digital Equipment Corporation (DEC).

<span class="mw-page-title-main">IXI Limited</span> British company specialising in Unix software

IXI Limited was a British software company that developed and marketed windowing products for Unix, supporting all the popular Unix platforms of the time. Founded in 1987, it was based in Cambridge. The product it was most known for was X.desktop, a desktop environment graphical user interface built on the X Window System. IXI was acquired by the Santa Cruz Operation (SCO) in February 1993.

Business Basic is a category of variants of the BASIC computer programming language which were specialised for business use on minicomputers in the 1970s and 1980s. To the underlying BASIC language, these dialects added record handling instructions similar to those in COBOL, allowing programmers to build complex file-handling applications using what was at that time a much more modern programming language. MAI Systems released the first example as MAI Basic Four in 1972, and several similar versions emerged through the 1970s.

AT&T Computer Systems is the generic name for American Telephone & Telegraph's unsuccessful attempt to compete in the computer business. In return for divesting the local Bell Operating Companies, AT&T was allowed to have an unregulated division to sell computer hardware and software. The company made the 3B series computers.

<span class="mw-page-title-main">Oracle Financial Services Software</span> Subsidiary of Oracle Corporation

Oracle Financial Services Software Limited (OFSS) is an Indian subsidiary of Oracle Corporation which is involved in financial and insurance technology. Established in 1990, the company was known as i-flex Solutions until 2008, two years after its acquisition by Oracle. It is headquartered in Mumbai.

NOMAD is a relational database and fourth-generation language (4GL), originally developed in the 1970s by time-sharing vendor National CSS. While it is still in use today, its widest use was in the 1970s and 1980s. NOMAD supports both the relational and hierarchical database models.

LINC is a fourth-generation programming language, used mostly on Unisys computer systems.

<span class="mw-page-title-main">Mobile banking</span> Service provided by a bank

Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Mobile banking is dependent on the availability of an internet or data connection to the mobile device.

<span class="mw-page-title-main">SMS banking</span> Form of mobile banking

SMS banking is a form of mobile banking. It is a facility used by some banks or other financial institutions to send messages to customers' mobile phones using SMS messaging, or a service provided by them which enables customers to perform some financial transactions using SMS.

Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices.

Aldon is a business unit of Rocket Software. It develops, manufactures, licenses and supports software change management products for the enterprise application lifecycle management (ALM) and software change management (SCM) markets.

<span class="mw-page-title-main">ILOG</span> Software company that makes products including JRules

ILOG S.A. was an international software company purchased and incorporated into IBM announced in January, 2009. It created enterprise software products for supply chain, business rule management, visualization and optimization. The main product line for Business Rules Management Systems (BRMS) has been rebranded as IBM Operational Decision Management. Many of the related components retain the ILOG brand as a part of their name.

Fiducia IT AG was a German IT-service provider based in Karlsruhe. In 2015, it merged with the GAD eG to form Fiducia & GAD IT AG.

Finacle is a banking software developed by Infosys. Finacle was created in 1999 as a core banking software suite and has been a part of Infosys' subsidiary EdgeVerve Systems since 2015.

Exigen Services recently merged and renamed to Emergn. Insurance Software production under Exigen Insurance Solutions has separated and was renamed to EIS.

Midas is a line of banking system solutions provided by Misys corporation that was initially developed in the 1970s and gained significant market share through the 1980s and 1990s.

Proposal software also known as proposal management software, proposal writing software, or proposal automation software is a computer program designed to help users develop proposals, presentations, and responses to RFPs. Proposal management software is becoming increasingly popular in companies that manage frequent and extensive proposal writing projects. Such software allows businesses to automate more routine tasks while easily tracking multiple versions.

Digital banking is part of the broader context for the move to online banking, where banking services are delivered over the internet. The shift from traditional to digital banking has been gradual, remains ongoing, and is constituted by differing degrees of banking service digitization. Digital banking involves high levels of process automation and web-based services and may include APIs enabling cross-institutional service composition to deliver banking products and provide transactions. It provides the ability for users to access financial data through desktop, mobile and ATM services.

References

  1. ↑ "TCS BaNCS Global Banking Platform" (PDF). Archived from the original (PDF) on 30 April 2020.
  2. ↑ Charlie, Adith (18 July 2013). "Banking on IT". @businessline.
  3. ↑ Hopperman, Jost. "The Forrester Wave™: Customer-Centric Global Banking Platforms, Q3 2014". forrester.com. Archived from the original on 2 April 2015.
  4. ↑ "About TCS BaNCS". www.tcs.com.
  5. ↑ "TCS deploys its core banking solutions for Chinese bank". The Economic Times. 7 August 2013.
  6. ↑ "TCS Deploys BaNCS Solution At China's Panzhihua Commercial Bank In Record Time". RTTNews. 7 August 2013.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.