TCS rises on entering into strategic alliance with Mongolia’s Khan Bank
Tata Consultancy Services is currently trading at Rs. 3545.75, up by 29.80 points or 0.85% from its previous closing of Rs. 3515.95 on the BSE.
The scrip opened at Rs. 3515.95 and has touched a high and low of Rs. 3550.00 and Rs. 3507.25 respectively. So far 26235 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4585.90 on 02-Sep-2024 and a 52 week low of Rs. 3060.25 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 3630.00 and Rs. 3380.00 respectively. The current market cap of the company is Rs. 1283697.45 crore.
The promoters holding in the company stood at 71.77%, while Institutions and Non-Institutions held 23.59% and 4.64% respectively.
Tata Consultancy Services (TCS) has entered into a strategic alliance with Mongolia’s Khan Bank to help modernize its core digital banking platform and transform its banking operations. Leveraging the flagship TCS BaNCS Global Banking Platform (GBP), Khan Bank is set to embark on a digital transformation program to streamline processes, improve efficiency, and enhance customer experience.
Khan Bank is a leading Mongolian national commercial bank with 548 branches spanning the country. It provides comprehensive banking and financial services to over 82 percent of Mongolia's total population (2.9 million customers). Khan Bank has been an existing customer for TCS’ BaNCS platform for close to 25 years. Building on this long-standing partnership, the TCS BaNCS Global Banking Platform will help the Bank streamline and modernize several critical business functions, including the Customer Information File (CIF), trade finance, treasury, international payments, and loans and deposits. The TCS BaNCS product suite will be deployed across Khan Bank’s operations including a consolidated treasury management platform supporting the wide range of asset classes offered by the bank, alongside real-time monitoring, risk exposure analysis, and advanced reporting capabilities.
TCS BaNCS, an innovative and adaptive digital-first core banking solution, which has proven to support several leading global banks, will help Khan Bank enhance its digital portfolio, reduce time to market, and streamline operations. The solution will help accelerate time-to-market for new products and services allowing Khan Bank to fast-track response to customer demands and roll out new innovative offerings. TCS will help the bank in scaling its digital banking operations, in turn ensuring that the bank’s services seamlessly reach a wider customer base contributing to its pure digital bank strategy.
TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses. TCS offers a consulting-led, cognitive powered, integrated portfolio of IT, business & technology services, and engineering.
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