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TCS partners with Mongolia’s Khan Bank to modernise core banking powered by AITCS Share Price | The IT giant will use its TCS BaNCS Global Banking Platform, backed by aritificlal intelligence (AI) and machine learning (ML), to optimise Mongolia's Khan Bank's core banking system.By CNBCTV18.com May 14, 2025, 11:19:51 AM IST (Published)2 Min ReadTata Consultancy Services (TCS) on Wednesday, May 14, said it is partnering with Mongolia’s Khan Bank to modernise the bank’s digital core and transform its operations.

The IT giant will use its TCS BaNCS Global Banking Platform, backed by aritificlal intelligence (AI) and machine learning (ML), to optimise the lender's core banking system.

This initiative marks a significant milestone in the long-standing relationship between the two entities, with Khan Bank having been a customer of the TCS BaNCS platform for nearly 25 years.

The modernisation project will support Khan Bank’s efforts to streamline its operations, enhance customer experience, and drive innovation using emerging technologies such as Artificial Intelligence (AI) and Machine Learning (ML), TCS said in a stock exchange filing.

Khan Bank, Mongolia’s leading commercial bank, operates 548 branches across the country and serves over 2.9 million customers, representing more than 82% of the Mongolian population.

The bank’s digital transformation program will cover several critical business functions, including the Customer Information File (CIF), trade finance, treasury, international payments, loans and deposits.

"This strategic partnership with TCS aligns with Khan Bank's ambitious growth plans, with the TCS BaNCS Global Banking Platform poised to play a pivotal role in our technology modernisation program," Munkhtuya R (Tuya), CEO of Khan Bank, said.

The TCS BaNCS product suite will be deployed across all operations, including a unified treasury management platform that supports various asset classes, with capabilities for real-time monitoring, risk exposure analysis and advanced reporting, the IT giant informed the stock exchanges.

TCS BaNCS’ ISO 20022-ready payment solution will enable Khan Bank to provide high- and low-value international payments.

The platform’s digital core, designed with component-based architecture and deployed as containers, will also allow seamless data streaming and innovation in AI/ML, the company said.

"This selection reinforces our commitment to the two-decade-long partnership with the bank, which began in 2001. Khan Bank will gain from TCS’ experience in spearheading large-scale core banking transformation programs globally, and the solution’s superior technology and architecture," Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, said.

The TCS BaNCS Global Banking Platform, which processes banking transactions for over 30% of the global population, is designed to help financial institutions manage risk, tap into new ecosystems, and deliver value across operations.

Shares of TCS were trading 81% higher at ₹3,543.4 apiece at 11.09 am.

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