IDBI Capital goes live with new trading platform, TCS Bancs
IDBI Capital, a subsidiary of India-based IDBI Bank, has gone live on a new securities trading and processing system, Bancs. The system is supplied by TCS Financial Solutions.
Bancs supports online brokerage operations at IDBI Capital. It provides front-to-back office functionality and replaced IDBI Capital’s multiple trading and trade processing platforms.
According to TCS, IDBI Capital embarked on this IT transformation programme “to exploit the potential of digitisation, rationalise its application landscape, and simplify its technology infrastructure”.
TCS implemented its Bancs offering, centralised risk management operations at IDBI Capital, enabled mobile trading on iOS and Android devices, and built multiple bank and online depository interfaces.
Nagaraj Garla, MD and CEO of IDBI Capital, comments that the company needed a “robust, high performance, integrated trading platform” that was “market-ready”.
Meanwhile, IDBI Capital’s parent, IDBI Bank, is undergoing a major technology upgrade (modernising its Infosys’ Finacle core banking platform) and business process re-engineering.