TCS Financial Solutions recently announced that Guangdong Rural Credit Union (GDRCU) has successfully gone live with TCS BaNCS Core Banking solution.

GDRCU is the third financial institution in China that has gone live with TCS BaNCS core banking solution, according to Brent Zhu, Head of TCS Financial Solutions China.

TCS BaNCS Core Banking is an integrated solution that automates all aspects of core banking operations across entities, languages and currencies. TCS BaNCS Core Banking combines front, middle and back-office processes in real-time, providing timely and actionable information about customer relationships. The system covers a variety of financial products including savings accounts, checking accounts, overdraft accounts, term deposit accounts and a variety of lending products including personal loans, corporate loans and mortgages. In addition, TCS BaNCS Core Banking covers a range of transactional services incorporating remittances, foreign exchange, drafts, bank cheques, cards and trade finance. These services are accessible through multiple channels, from the branch to the call center, mobile banking and the internet.

Guangdong Rural Credit Union is the biggest provincial rural credit union in China, and also is a financial institution with largest number of business branches and widest services in the province, holding 6686 service branch and 57 thousand employees.