HFC Bank embarks on a new $40m digital investment

HFC Bank says their customers can expect improved service delivery as the bank is investing $40 million to increase efficiency, reduce operating costs and better returns for shareholders.

This comes as the bank has signed a contract with TCS BaNCS for their new Core Banking System and digital enhancements.

TCS BaNCS is a division of Tata Group in India.

The Bank says the 6 key areas of enhancements include the core banking platform, treasury management, trade finance, financial management, new digital experience and data warehousing.

They says this signing marks the beginning of the implementation which is planned over the next 15 months and is earmarked for completion by mid-2023.

CEO Rakesh Ram says this project is an incredible leap for the bank and this transformation will certainly put them at the forefront of becoming a leading player in the banking arena.

Ram adds this is a clear confidence in the future of the bank and Fiji’s economy, which will see HFC Bank to be the most admired and respected bank delivering the best quality service to its customers and fair return to its shareholders who are all Fijians.