TCS Wins Core Banking Customer In China

MUMBAI: Close on the heels of Bank of China contract which it won earlier this year, Tata Consultancy Services (TCS) has announced another core-banking order for China's Guangdong Provincial Rural Credit Cooperative Union (GDRCC).

The value of the contract could not be ascertained but N Ganapathy Subramaniam, who heads TCS Financial Solutions, said the implementation would be across 7,000 branches.

According to IDC estimates, the Chinese market for banking IT solutions in 2006 was $818 million, up 23.3% from its 2005 value.