TCS Secured Core Banking Transformation Deal With Kuwait's Burgan Bank

Description

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Tata Consultancy Services (TCS) has signed an agreement to update Burgan Bank's core banking technology, a major commercial bank in Kuwait. Burgan Bank will use TCS BaNCS to integrate various historical applications into a modern universal banking solution, hence improving innovation and client relations.

Bank Profile

Burgan Bank, one of Kuwait's newest commercial banks, with a regional network of about 160 branches and 360 ATMs. The bank plans to use TCS BaNCS to digitally alter its technological landscape.

Transformation Details

• Comprehensive Suite-  TCS BaNCS's comprehensive suite includes core and digital banking, payments, retail and corporate loan origination, wealth management, regulatory compliance, and other services.

• Enhanced Capabilities- The technology will allow the bank to manage higher transaction volumes, automate processes, and increase employee efficiency.

• API Integration- With TCS BaNCS' extensive API portfolio, Burgan Bank will be able to provide an integrated solution to its corporate, retail, and private banking customers.

Technological Impact

• creative Solutions- TCS BaNCS's modular and open architecture enables broad configurability, resulting in a speedy time-to-market for creative solutions.

• Customer Experience- The transformation guarantees that customers have simple, streamlined, and contextualized experiences.

• Compliance- Implementing the Quartz for Compliance solution will improve end-to-end AML/KYC capabilities across all business units.

Regional Presence

This collaboration reinforces TCS's position as a digital transformation leader in the MEA region, where it operates in nine countries and employs over 9,000 people to serve more than 150 regional customers.

Recognition

TCS BaNCS has received multiple awards for core banking transformation throughout Middle Eastern institutions, emphasizing its strong and intelligent digital core.

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