TCS partners with Khan Bank to modernise operations, expand AI-driven banking services

India’s largest IT services company Tata Consultancy Services (TCS) has formed a new partnership with Khan Bank, one of Mongolia’s largest commercial banks, to upgrade its digital banking infrastructure. This move is part of Khan Bank’s plan to modernise operations and expand digital services. 

The collaboration will use TCS’ BaNCS Global Banking Platform, a core banking solution designed to support a range of financial services. With this upgrade, Khan Bank aims to improve operational efficiency, support international payments, and deliver new banking products faster. 

Khan Bank serves over 80% of Mongolia’s population, with 548 branches across the country. It has worked with TCS for nearly 25 years. The current initiative will build on that relationship, updating key functions such as customer data management, loans, deposits, trade finance, treasury, and cross-border payments. 

The bank will also deploy a consolidated platform for treasury operations. This system will include tools for monitoring financial activity in real time, managing risk, and generating detailed reports. It will also support Khan Bank’s use of new technologies, including artificial intelligence and machine learning. 

As part of the upgrade, TCS will provide a modular banking solution that allows the bank to scale operations and adapt to changing market demands. This includes support for the latest international payment standards such as SWIFT GPI and SWIFT Go. 

According to the company, the platform will help Khan Bank launch new services more quickly and support its digital growth strategy. The platform is designed to process large transaction volumes and is already used by several banks worldwide. 

Munkhtuya R. (TUYA), CEO, Khan Bank, said, “By helping us realise our strategic objectives of streamlining operations for quick time-to-market and future-proofing our banking technology platform and environment, TCS BaNCS will empower our Bank to achieve its growth ambitions, explore initiatives in the space of Artificial Intelligence (AI), and solidify its position as the leading bank in Mongolia.” 

Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, “Khan Bank will gain from TCS’ experience in spear-heading large-scale core banking transformation programs globally. The solution will enable quick time to market of new products and innovative offerings, enable mass personalisation and help sustain Khan Bank’s market leadership in the country.”