MUMBAI : India’s largest software exporter Tata Consultancy Services (TCS) today said that it has successfully implemented a Regional Payments Hub – powered by TCS BaNCS for Payments- for MUFG Bank, Japan’s largest financial institution.
Ranked by Bloomberg as the eighth largest bank in the world, MUFG Bank has an extensive branch network throughout Japan and fifty other countries. As part of its transformation journey, it consolidated its extensive multi-entity, multi-country, cross-border payment processing operations, which were running on an array of disparate legacy systems, onto a Regional Payments Hub powered by TCS BaNCS for Payments.
With this transformation, MUFG Bank has realized its vision to streamline all payment operations across the entire Asia-Pacific region to drive future growth, improve efficiency and lay a strong foundation to enable innovation.
“MUFG Bank is happy that the Regional Payment System-based consolidation has become a reality. A project of this complexity was accomplished not only because TCS BaNCS was a strong fit to our requirements, but TCS’ delivery capability and proven methodology made collaboration across multiple geographies possible,” said a spokesperson for MUFG Bank.