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TCS Collaborates with Khan Bank of Mongolia to Modernize Digital Banking.

Banking & Finance | Dated: 21 May 2025

In May 2025, Tata Consultancy Services (TCS), headquartered in Mumbai, Maharashtra, announced a strategic alliance with Khan Bank, a prominent commercial bank based in Ulaanbaatar, Mongolia, to modernize its core digital banking infrastructure.

🎯 Key Highlights:

  • - As part of this initiative, Khan Bank will adopt the TCS BaNCS Global Banking Platform (GBP)—the flagship banking solution from TCS—to accelerate its digital transformation.
  • - This move aims to enhance operational efficiency, improve digital services, and integrate advanced Artificial Intelligence (AI) innovations across the bank's ecosystem.
  • - The digital upgrade will encompass vital banking operations, including Customer Information File (CIF), Trade Finance, Treasury, International Payments, Loans, and Deposits.

💡 Other Important Facts:

  • (i) The TCS BaNCS platform includes an ISO 20022-compliant payment system that supports SWIFT GPI and SWIFT Go standards. This will allow Khan Bank to process both high-value and low-value cross-border payments efficiently.
  • (ii) This partnership further strengthens the long-standing relationship between TCS and Khan Bank, which dates back to 2001, marking over 25 years of collaboration.
  • (iii) TCS BaNCS is a robust suite of banking and financial solutions developed by TCS, widely used by retail banks and financial institutions worldwide to support their digital and operational needs.

📚 Test Your Knowledge:

Recently, which Indian IT company partnered with Khan Bank of Mongolia for digital banking modernization?

Correct Answer: Tata Consultancy Services

🚀 Quick Recap: