Tata Consultancy Services (TCS), a global IT services and consulting leader, has entered into a strategic partnership with Khan Bank, one of Mongolia’s largest commercial banks. This alliance marks a significant step in modernising digital banking infrastructure using cutting-edge technologies like artificial intelligence (AI) and machine learning (ML) through the deployment of the TCS BaNCS™ Global Banking Platform (GBP).

A Two-Decade Partnership Strengthened

Khan Bank, serving 82% of Mongolia’s population through its 548 branches, has had a long-standing relationship with TCS, using the TCS BaNCS platform for almost 25 years. This renewed collaboration will deepen that relationship with the deployment of advanced banking solutions across the bank’s core business operations.

The TCS BaNCS platform will support vital banking areas such as:

• Customer Information File (CIF) management

• Trade finance

• Treasury

• International payments

• Loans and deposits

These functionalities are being integrated into a unified platform that ensures operational efficiency, real-time risk monitoring, and advanced financial reporting capabilities.

AI, ML, and API-Driven Innovation

This initiative is aligned with Khan Bank’s broader strategic goals to modernise its banking environment and future-proof its offerings. With TCS BaNCS’ digital-first architecture, Khan Bank will now be able to launch new banking products and services faster, meeting changing customer demands in a dynamic financial ecosystem.

The platform will enable mass personalisation, reduce the time-to-market for digital offerings, and allow experimentation in AI and ML, helping the bank offer smart, predictive, and adaptive services.

In particular, the componentised core banking model deployed in containers will allow seamless data streaming, simplified scalability, and rapid integration with new APIs — vital for expanding digital ecosystems and fintech partnerships.

Empowering Mongolia’s Digital Banking Future

Munkhtuya R. (Tuya), CEO of Khan Bank, expressed confidence in the alliance’s ability to drive the bank’s next phase of growth. She underlined that the TCS BaNCS platform aligns perfectly with the bank’s goals of:

• Accelerated time-to-market for new services

• Streamlined operations

• Future-ready core infrastructure

• Enhanced customer satisfaction

TCS BaNCS is designed to support large-scale banking transformations globally and offers the scalability and security that Khan Bank needs to maintain its market leadership in Mongolia.

Modern Payment Systems with Global Reach

A key highlight of the platform is its ISO 20022-ready payment system, capable of supporting SWIFT GPI and SWIFT Go standards. This will empower Khan Bank to offer:

• High and low-value international payments

• Real-time international transaction tracking

• Enhanced transparency and faster cross-border transactions

This is crucial for Mongolia’s growing international banking demands, particularly in trade, foreign remittances, and digital payment innovations.

Industry-Leading Banking Solution

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, said the long-standing collaboration since 2001 underscores the mutual trust and growth potential both organisations share. TCS brings to this partnership its deep experience in transforming banking systems globally, which includes a 30% share of global banking transaction processing via TCS BaNCS.

He further added that this transformation would help Khan Bank realise:

• Better customer segmentation

• Personalised service offerings

• Greater operational visibility

• Faster adaptability to regulatory changes

A Broader Context: TCS BaNCS Impact

TCS BaNCS is already a globally recognised banking platform, used by major banks, financial institutions, and cooperatives. Its availability on the cloud and API integrations allows it to support seamless transitions from legacy banking systems to modern ecosystems, a capability now being leveraged in Mongolia.

The platform consists of:

• Multiple components and apps

• Real-time monitoring tools

• Automated treasury systems

• Modular scalability across geographies

Conclusion: A Future-Ready Alliance

The TCS-Khan Bank partnership sets a benchmark for banking modernisation in emerging markets. With digital at its core and a strong focus on AI/ML innovation, real-time processing, and cross-border financial compliance, the alliance reflects the future direction of the financial services sector.

This strategic upgrade not only helps Khan Bank future-proof its banking operations but also opens up new avenues for customer engagement, product innovation, and operational excellence.

For TCS, this reaffirms its stature as a technology transformation partner for banks worldwide. For Khan Bank, it marks the next chapter in delivering smart, efficient, and customer-centric banking to millions of Mongolians.

The Upcoming IPOs in this week and coming weeks are Integrity Borana Weaves, Belrise Industries, Wagons Learning.

The Current active IPO are Accretion Pharmaceuticals, Integrity Infrabuild Developers and Virtual Galaxy Infotech.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.