[3] Prior to the corporate takeover by TCS, the BaNCS software was developed at the headquarters of Financial Network Services Pty (FNS) in Sydney Australia.

First implemented into local Australian and New Zealand banks and credit unions throughout the late 1970s and into the 1980s the demand from overseas markets grew substantially looking for automation and consolidation of disparate systems.

Various region specific business rules were designed and integrated with parameterised functionality into the Base Software in sub-versions from customer sites via the Redfern Development Office.

The core applications COBOL source code was interchangeable, but interfacing software, such as API gateways, transaction queues and data storage differed to cater for the platform and database choices demanded from customers.

In the 1990s and 2000s, Internet Banking (BANCS Connect), Treasury, FX/MM, Trade Finance were also developed with multiple client sites supported and upgraded onto later versions as the software matured and customers reaped benefits of further functionality Version 7.6 and onward was developed in COBOL by the Tata Consultancy Services business unit TCS Financial Solutions.