Tata Consultancy Services on Sunday said its core banking solution (CBS)'BANCS' is all set to power over 40 per cent of the transactions in the domestic banking sector over the next two years. TCS has deployed the solution in more than 8,000 branches across the country, according to a company release here. Globally, TCS-FNS' CBS has been installed in over 115 banks spread over 35 countries and its clients include Tier I and Tier II banks in emerging markets in Europe, Asia, Australia and Africa, it said. BANGS is a product of Sydney-based Financial Network Services (FNS) which was acquired by TCS in 2005.

"TCS-BANCS has made-deep inroads into the domestic banking sector and following the implementation of the solution in the various banks we should be powering over 40 per cent of the total banking transactions in the country," TCS MD and CEO and Managing Director S Ramadorai said. In the last four years, TCS has managed a series of wins in the domestic banking industry, including State Bank of India and its associate banks, Central Bank of India, Indian Bank and Bank of Maharashtra, he said.

The TCS-FNS registered its first major achievement in the country in 2002 after winning the mandate from SBI for core banking solution across all its branches and associates bank branches.