the way. 2012 saw nine new name wins for broad core banking, including a


large, long-awaited core banking deal in the US at Utah-based Zions Bancorporation. Earlier in the year, National Bank for Agriculture and Rural Development (Nabard), the regulator of India’s cooperative banking sector, had signed to roll out BaNCS (as well as Infosys’ Finacle) across all of the country’s state and district cooperative banks. Other gains in the year included Mystate in Tasmania, Banyan Tree Bank in Mauritius and Qatar National Bank. Unhappy news, however, emerged around this time from solitary


Russian taker, B&N Bank, as its overrunning BaNCS implementation was first put on hold and then later cancelled altogether. Although it was thought initially that the bank would retain its three existing BaNCS sites, it became clear in late 2012 that these were now set to install CFT-Bank from local vendor, CFT. There was also seemingly quite a marked shift in terms of tie- ups with other organisations by the end of 2012. Although there had historically been some partners in Bangladesh, Egypt, Turkey and Russia, TCS (with the support of vast Indian resources) had traditionally not followed this route. However, the latter half of 2012 saw Sofgen announced as the first formal recruit within a ‘Global Channel Partner Programme’. This tie-up was on a global basis and would see Sofgen offer a range of services around BaNCS. The Partner Programme simply created a ‘formal framework for the way we onboard partners’, said president, N G Subramaniam. It allowed TCS to qualify, certify and integrate them into the company’s ecosystem.


Functionality of Bancs


General ledger via third party offering. Support for current and savings accounts, cheques, standing orders, mortgages, personal loans, loans tracking, loan origination, remittances, passbooks, signature verification, direct debits, sweeps, ATM/POS links, correspondence production, multi-channel delivery. CRM. Cards. Islamic banking products. Private banking. Multi-currency, multilingual support. FX, MM, commercial and syndicated loans, deposits, bonds, FRNs, convertibles, gilts, repos, CDs, commercial paper, securities, FRAs, interest rate and currency swaps, nostro and vostro account management. Payments. Support via third party systems for futures and options, warrants. Regulatory reporting. Precious metals, bullion, portfolio management, reconciliations, corporate electronic banking. Batch and real-time Swift interface link. Deal capture.


Number of known Islamic sales for Bancs: 12 Total number of known sales for Bancs: 452


Islamic banking functionality supported


Deposit products: savings accounts. Current accounts: Wadiah concept. Investment accounts: Mudarabah, bonus distribution. Financing schemes: Mudarabah, Murabahah, Musharakah, Ijarah, Ijarah Muntahai Bittamleek, Istisna, Salam, Al Rahn, Qardh, Bai’ al-Ina, Bai’ Bithaman Ajil, Ijara Wa Iqtina, Kafalah. Capital markets: Sukuk, Murabahah, reverse Murabahah, Takaful. Other services: Wakalah money transfers, cards processing, internet banking, origination, payroll, FX exchange.


Islamic Report www.ibsintelligence.com 245


Although, as mentioned, it already had a few largely country-specific partners, it was now seeking to recruit other third parties. While some of the existing partners also had a sales role, the intention was that all of them should have skills around implementation. It also emerged around the same time that, after much coaxing, TCS had agreed to become one of the latest additions to the Banking Industry Architecture Network (BIAN). Of the eight TCS BaNCS wins in 2013, one - in Bangladesh - was Islamic. A multi-site win was at Bank of India, to standardise its international network on BaNCS, replacing Misys’ Midas. TCS had a similar haul in 2014 with eight new name wins in 2014 including Bank Yahav in Isreal and Corpbanca Investment Trust Colombia S.A. Sociedad in Colombia however none of the wins were for islamic implementation. In 2015, TCS BaNCS had 11 new name customers out of which 3 bank implementations had Islamic components. One of those was a South Africa based bank with the other two being in the South-East Asian countries of Malaysia and Indonesia. The Indonesian bank was an off-the-record bank while the bank in Malaysia was Koperasi Angkatan Tentera Malaysia. The Malaysian implementation included components such as retail, corporate, digital channels, treasury, wealth management, compliance and AML. 2016 saw TCS bring onboard 18 new name clients. Out of these, two implementations in Bahrain were Islamic.


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