Banque Saudi Fransi (BSF), headquartered in Riyadh, Saudi Arabia, has upgraded its domestic and international real-time payment processing capabilities by implementing the core banking software suite from Tata Consultancy Services (TCS). The adoption of TCS BaNCS for Payments has allowed the bank to centralize and standardize its operations, leading to improved transaction speed and pre-validation in real-time.
Facts
- Banque Saudi Fransi (BSF) enhances its real-time payment processing capabilities with TCS BaNCS.
- The implementation allows the bank to centralize and standardize operations for domestic and international payments.
- Pre-validation in real-time has led to a nearly doubled straight-through-processing rate and faster transactions.
- TCS BaNCS helps BSF provide frictionless payment services and scale systems for increasing transaction volumes.
- TCS BaNCS offers a repository of APIs, empowering third-party providers and enabling open banking and BaaS solutions.
- BSF becomes an early adopter of GCC-RTGS Payments Clearing, facilitating payment transfers between Gulf Cooperation Council (GCC) countries.
- All real-time payments and collections, including international payments through Swift, are now processed through TCS BaNCS.
