Banque Saudi Fransi (BSF), one of Saudi Arabia’s largest banks, has implemented TCS BaNCS for payments, provided by Tata Consultancy Services (TCS).

TCS BaNCS has centralised and standardised BSF’s domestic and international payments operations. Real-time transaction validation has increased straight-through-processing rates and transaction speeds .The microservices architecture of TCS BaNCS enables BSF to offer real-time payment services and scale its systems to handle high-transaction volumes. The solution provides ready-to-use APIs for integration with third-party providers, supporting BSF’s open banking strategy.

BSF gains a future-proof digital core and ISO20022 compliance, facilitating the introduction of new product lines and adherence to SWIFT’s CBPR+ guidelines. The bank is also an adopter of the GCC-RTGS Payments Clearing scheme for cross-border payments in the GCC region. The share price went down by 0.23 per cent to ₹3,503.90 at 1:03 p.m. on BSE.

Published on July 17, 2023