Tata Consultancy Services (TCS) has expanded its partnership with Indian Bank through the deployment of TCS BaNCS for Treasury at the bank’s Colombo branch in Sri Lanka. The deployment marks the entry of the treasury platform into the Sri Lankan market.
The platform has already been deployed across Indian Bank’s operations in India and at GIFT City in Gujarat. Its extension to Colombo will support the bank’s efforts to establish a consistent approach to treasury operations across its domestic and overseas businesses.
Under the agreement, TCS will help modernise Indian Bank’s treasury operations in Sri Lanka, covering money markets, investment management and foreign exchange. The integrated platform will support unified deal processing, real-time visibility of treasury positions, risk and limit controls, and regulatory reporting.
The system is expected to reduce manual intervention, improve straight-through processing and provide a consolidated view of positions, liquidity and exposures across financial instruments and currencies. It will also help the bank strengthen audit processes and meet regulatory reporting requirements.
S Viswanathan, CEO of Indian Bank’s Sri Lanka Operations, said the bank required a platform that could support growth while improving control, transparency and operational flexibility. He noted that TCS BaNCS for Treasury had already demonstrated its capabilities in the bank’s India and GIFT City operations.
Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, said treasury transformation involves improving automation, operational insight and the ability to respond to changing market conditions. He added that the platform would support Indian Bank’s overseas business with treasury functionality, operational resilience and regulatory capabilities.
TCS will provide deployment and ongoing maintenance support, with the aim of ensuring integration with the bank’s existing systems and international market infrastructure. For the Colombo branch, the platform is expected to improve oversight of foreign exchange and market risk, accelerate deal execution and settlement, and support more efficient regulatory reporting. The consolidated information available through the system will also help treasury teams assess positions, limits, liquidity and exposures, supporting operational monitoring and decision-making.
Tata Consultancy Services, listed on the BSE and NSE, is an IT services, consulting and business solutions company. Founded in 1968, it operates in 56 countries and has 194 service delivery centres worldwide. The company works with organisations across industries on technology modernisation and digital transformation.
TCS in Sri Lanka extends TCS’s existing relationship with Indian Bank and brings its treasury platform to another overseas banking operation. It also provides Indian Bank’s Colombo branch with a common technology foundation for managing treasury activities as its business develops.
