TCS Inks Deal with Kuwait Based Burgan Bank By CIOTechOutlook Team

TCS Inks Deal with Kuwait Based Burgan Bank

CIOTechOutlook Team | Thursday, 23 May 2024, 02:32 IST

Tata Consultancy Services (TCS) has established a partnership with Kuwait's commercial lender Burgan Bank to upgrade its core banking technology. The size and duration of the agreement were not disclosed.

“The bank will deploy TCS BaNCS to consolidate multiple standalone legacy applications into a contemporary universal banking solution that drives innovation and strengthens customer relationships,” TCS said in a statement.

TCS BaNCS is a retail banking software suite built by TCS, India's leading IT services company.

Burgan Bank, one of the youngest commercial banks in Kuwait with a regional network of over 160 branches and 360 ATMs, will use TCS BaNCS suite solutions, which will enable the bank to manage higher transaction volumes, enhance automation, and improve staff productivity. “With TCS BaNCS rich set of APIs, the bank will serve its diversified customer base of corporate, retail, and private banking segments with an integrated solution,” the statement said.

“We have embarked on a very broad technology and digital transformation journey that will create an integrated banking ecosystem…Modernizing our core systems will support our ongoing focus on innovation and delivering value to our customers through defining personalized offerings and intuitive, streamlined experiences. This will pave the way for sustainable growth,” said Tony Daher, group chief executive officer, Burgan Bank.