Banque Saudi Fransi taps TCS BaNCS to drive payments transformation

By Gloria Methri

Tata Consultancy Services (TCS) has announced that its customer Banque Saudi Fransi (BSF), has successfully transformed its domestic and international real-time payments processing using TCS BaNCS for Payments. The move represents a key milestone in the bank’s digital transformation and core banking modernization program.

Banque Saudi Fransi, one of the leading banks in the Kingdom of Saudi Arabia (KSA), selected TCS BaNCS to simplify and digitize its IT landscape across deposits, lending, and payments, and enhance its position as a modern, innovative, and experience-focused bank in the region.

As part of this transformation, the bank leveraged TCS BaNCS for Payments to centralize and standardize its operations across domestic and international payments. With data centralized and secure in the new system, the bank can pre-validate transactions in real-time, nearly doubling the straight-through-processing rate and speeding up transactions.

The TCS BaNCS solution’s microservices architecture is helping the bank provide real-time, frictionless payment services to its clients and scale systems to match increasing transaction volumes.

The new solution is helping Banque Saudi Fransi’s needs and superior customer experience, be more responsive to clients’ growing needs, and innovate while seamlessly adapting to market evolution.

The TCS BaNCS solution’s digital core and Saudi market-ready functionality will help BSF roll out new product lines, while its ISO20022 compliance will enable it to easily comply with CBPR+ guidelines as per the timeline defined by SWIFT.

With TCS BaNCS for Payments, the bank is now an early adopter of the regional GCC-RTGS Payments Clearing, enabling its customers to send and receive money to GCC countries through this innovative payment clearing scheme.

Thamer Yousef, COO, Banque Saudi Fransi, said, “The successful deployment of TCS BaNCS for Payments as part of our larger enterprise-wide transformation program reflects our commitment to supporting payments innovation in the Middle East. All real-time payments and collections, including international payments through SWIFT, will now be done through TCS BaNCS. The solution’s rich set of APIs will help us maximize flexibility and connectivity, and enrich value-added services around payments, empowering us to adopt any new evolution in this area rapidly.”

Venkateshwaran Srinivasan, Global Head, TCS Financial Solutions, TCS, said, “We are happy to announce the successful deployment of TCS BaNCS for Payments at Banque Saudi Fransi. TCS BaNCS has been powering payments transformation for leading banks worldwide, including the KSA and GCC, and this go-live at BSF is testimony to our functionally rich solution designed on best-in-class technology, high levels of scalability, certified readiness for SWIFT standards, and TCS’ ability to deliver large digital transformation programs successfully.”