Two largest banks in Myanmar, KBZSC and AYA Trust deploy TCS BaNCS solution for securities trading and settlement, adapting global capital markets practices and standards.
Myanmar’s movement toward democracy has opened the way to the development of domestic capital markets with the promise of rapid economic growth in the near-term horizon.
KBZ Bank, a technology-forward financial institution named as the fund settlement bank for cash settlement on stock trading at YSX, wanted to become a leading brokerage.
AYA Bank, the second-largest bank in Myanmar, has been recognized for its governance and sustainability efforts by World Finance magazine, and since 2012 has been a participant of the United Nations Global Compact corporate sustainability initiative.
KBZ Bank and AYA Bank were licensed to start their securities businesses in December 2015, just three months prior to the scheduled first day of trading on Yangon Stock Exchange (YSX).
KBZ Bank and AYA Bank turned to TCS Financial Solutions to meet the extraordinary challenge of launching a new brokerage in a new marketplace.
Read how TCS BaNCS enabled KBZ Bank and AYA Bank to be first-to-market with retail brokerage services.