In 2006, DBS deployed NCS, a custody solution that was acquired and folded into TCS BaNCS with the formation of TCS Financial Solutions in 2007. Although TCS worked closely with DBS to maintain the legacy solution to meet client needs, the modern architecture of TCS BaNCS began to outpace the capabilities on the mainframe solution.
By 2015, it was time to make the switch. Highly scalable open-source technologies had supplanted the mainframe-based approach, which included ancillary technologies that were no longer being actively supported by their vendors.
DBS now runs the latest version of TCS BaNCS on a future-proof, open-source IT architecture managed in-house. The implementation covers four solution areas: settlement processing, corporate actions, reconciliation, and reporting.
The first go-live was in Singapore in November 2016. DBS completed the fifth and final go-live in India in August 2017 — 5 markets in the span of 9 months.
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