Bank modernizes its cash management business with TCS BaNCS
Societe Generale has successfully implemented TCS BaNCS to run its cash management business in Hong Kong and Singapore. The implementation is part of the modernization and transformation of the IT landscape for the bank’s Global Transaction & Payment Services (GTPS) business unit.
The deployment in Asia extends the capabilities previously deployed in Europe. Since 2004, TCS BaNCS has powered the bank’s Cash Europe platform for Cash Management business in seven European countries. Through the use of a “model bank” approach, the Cash Asia rollout was accomplished quickly and efficiently, with extensive reuse of functionality and interfaces to SG enterprise systems.
The project was successfully executed with joint participation from TCS teams working in Bangalore and Gurgaon in India, and Societe Generale teams working in Paris, Hong Kong, Singapore, and Bangalore. While project teams operated out of multiple locations based on a well-defined responsibility assignment matrix, a major part of implementation activities were carried out of Societe Generale’s Global Solution Centre (GSC) in Bangalore.
The deployment proceeded according to schedule, meeting all of the bank’s milestones as per an integrated program plan jointly prepared between project teams of TCS and Societe Generale.
Philippe Mirland, Head of Business Solutions for GTPS at Societe Generale, commented: “The Cash Asia program was designed based on the Model Bank approach, taking full advantage of the deployed solution in Europe. TCS and Societe Generale teams prepared a meticulous program plan to manage the new challenge of having additional locations involved in the overall GTPS program.
“With the Hong Kong and Singapore deployments, TCS has proven its ability to rapidly localize and integrate TCS BaNCS with local payments clearing services in new markets. TCS teams have been highly professional in executing the program as per the plan and have shown high responsiveness in responding to unforeseen challenges that arose during the project. “Societe Generale looks at TCS as a strategic partner for Cash Management business, and this relationship has been proven once again with the successful implementation of Cash Asia.”
Nitin Sirohi, Principal Consultant, TCS Financial Solutions, remarked: “TCS has excellent long-standing relationships with Societe Generale business solution and IT teams based in Paris. When we embarked on the Cash Asia program, we had the challenge of including into our existing processes the Societe Generale GSC India team along with some key stakeholders in Singapore and Hong Kong. TCS and Societe Generale teams quickly adapted to an expanded process, and all the teams rallied behind the overall project objectives. Real-time connections between program leaders at Societe Generale and TCS led to efficient decision making and a successful implementation.
“TCS BaNCS is now supporting operations across nine countries for the Cash Management business of Societe Generale, and we consider this to be a special relationship which we look forward to expanding in the future.”