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( As on 14/05/2025 10:18)

TCS partners with Khan Bank to modernize operations and drive innovation through AI and ML

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has formed a strategic alliance with Mongolia’s Khan Bank to modernize its core digital banking platform and enhance its operations. The partnership will leverage the TCS BaNCS™ Global Banking Platform (GBP) to support Khan Bank’s digital transformation journey aimed at streamlining operations, boosting efficiency, and improving customer experience.

Khan Bank, one of Mongolia’s largest commercial banks with a network of 548 branches, serves over 82% of the country’s population—around 2.9 million customers. Having been a long-standing customer of the TCS BaNCS platform for nearly 25 years, the bank is now building on this relationship to upgrade key functions, including its Customer Information File (CIF), trade finance, treasury, international payments, and loans and deposits.

The TCS BaNCS platform will be implemented across Khan Bank’s operations, including a consolidated treasury management solution that supports various asset classes. It will offer capabilities such as real-time monitoring, risk exposure analytics, and advanced reporting to strengthen the bank’s operational agility.

Munkhtuya R. (TUYA), CEO of Khan Bank, stated, “Our strategic partnership with TCS is aligned with Khan Bank’s growth vision. The TCS BaNCS Global Banking Platform will be instrumental in our technology modernization efforts, helping us streamline operations, accelerate time-to-market, and future-proof our systems. It will also support our AI initiatives and solidify our leadership position in Mongolia’s banking sector.”

TCS BaNCS, a forward-looking, digital-first core banking solution adopted by many leading global banks, will enhance Khan Bank’s digital offerings and enable rapid deployment of new products and services. It will also support the bank’s plan to scale digital operations and further its strategy of becoming a fully digital bank.

The ISO 20022-compliant TCS BaNCS payment solution—compatible with SWIFT GPI and SWIFT Go—will enable Khan Bank to offer both high and low-value international payments. Its modern architecture features a component-based design deployed in containers, allowing seamless data streaming and fostering AI/ML-driven innovation from a robust, future-ready platform.

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, commented, “We’re honored that Khan Bank has chosen the TCS BaNCS Global Banking Platform for its core modernization initiative. This decision reflects the strength of our two-decade partnership. Khan Bank will benefit from our extensive global experience in core banking transformations and from the platform’s advanced technology and architecture, enabling faster product rollouts, personalized experiences, and continued market leadership.”

TCS BaNCS is designed to help financial institutions manage risk, integrate with new ecosystems, and unlock significant value. Serving more than 30% of the global population’s banking needs, the platform is used by banks, cooperatives, and financial institutions worldwide. Its modular, cloud-enabled architecture supports APIs and helps traditional institutions transition from legacy systems to modern, agile operations.