TCS to integrate trade finance system for SBI

MUMBAI: Tata Consultancy Services (TCS) has bagged another project from State Bank of India (SBI) for supplying, customizing and implementing the centralized trade finance system. According to the company officials, this is one of the largest projects of its kind in the world in terms of the number of branches, customers and transaction volume.

The project involves supply and installation of trade finance software, customization of the trade finance software, implementation, rollout of the software at SBI branches, training and support. Ashok Kini, Deputy Managing Director, IT, SBI said, "The centralized trade finance project is critical to the bank’s IT and business strategy. Over the next couple of years, the trade finance system will be rolled out across multiple branches."

As the prime vendor, TCS has teamed-up with China systems for the project. China Systems would supply its flagship product ‘Eximbills’. The banking and financial services and insurance (BFSI) group at TCS would implement the project.

Earlier this year, SBI had awarded its core-banking project to TCS, which encompassed developing capabilities using the core banking solution. The SBI group has more than 13,000 branches including its seven associate banks. The new trade finance system would be implemented at all required branches throughout the SBI group.