MUFG picks TCS Bancs to consolidate payments

Monday 24 December 2018 07:23 CET | News

MUFG Bank, one of Japan’s financial institutions, has selected Tata Consultancy Services (TCS) to overhaul its payments operations.

Through this deal, the bank has consolidated its multi-entity, multi-country, cross-border payment processing operations, which were running on an array of disparate legacy systems, into one regional payments hub powered by TCS Bancs for Payments.

The vendor says its TCS Bancs payments solution covers the complete value chain, including order management, clearing and settlement. It provides direct debit and credit transfers, including domestic and international variations, on a single platform.

The solution is designed on ISO 20022-based data and process models, and includes features including real time-payments and open APIs.

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Keywords: MUFG Bank, Tata Consultancy Services, payments , APIs
Countries: World