Tata Consultancy Services to deploy TCS BaNCS Global Banking Platform to streamline operations, enhance digital agility, and expand AI-led banking innovation for 2.9 million customers
Tata Consultancy Services (TCS), a global IT and consulting powerhouse, has signed a strategic agreement with Khan Bank, Mongolia’s leading commercial bank, to modernize its core banking systems using the TCS BaNCS Global Banking Platform (GBP). This marks a new chapter in the 25-year partnership between the two organizations, with a renewed focus on digital agility, AI-powered innovation, and operational excellence.
Khan Bank, which serves over 82% of Mongolia’s population through a nationwide network of 548 branches, will overhaul critical banking functions such as trade finance, treasury, international payments, loans, deposits, and the Customer Information File (CIF) using TCS BaNCS. The bank aims to unify its treasury operations on a real-time platform with advanced risk analytics and reporting, ensuring scalability and resilience as it gears up for rapid digital growth.
“TCS BaNCS will empower our bank to achieve its growth ambitions, explore AI innovation, and future-proof our technology stack.”
— Munkhtuya R. (TUYA), CEO, Khan Bank
Strengthening a Two-Decade-Long Partnership
Munkhtuya R. (TUYA), CEO of Khan Bank, remarked, “This strategic partnership with TCS aligns with Khan Bank’s ambitious growth plans. TCS BaNCS will play a pivotal role in our technology modernization program—enhancing time-to-market, improving customer experience, and supporting innovation through AI and ML initiatives.”
The TCS BaNCS platform, renowned for serving 30% of the global population’s banking transactions, will enable Khan Bank to launch new products faster, embrace mass personalization, and further its pure digital bank strategy. With its ISO 20022-ready payment capabilities, the solution will support SWIFT GPI and SWIFT Go, enhancing high- and low-value international transactions.
AI-Ready Core with Ecosystem Integration
TCS will deploy containerized core banking components with integrated APIs to simplify data streaming and unlock real-time insights, enabling Khan Bank to tap into extended banking ecosystems. With this foundation, Khan Bank will be well-positioned to innovate with AI/ML tools while maintaining compliance, security, and customer trust.
Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, “This engagement reflects our commitment to one of Asia’s most progressive banks. Our global expertise in large-scale transformations and TCS BaNCS’ composable architecture will help Khan Bank deliver differentiated offerings and retain its market leadership.”