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TCS partners with Burgan Bank to enhance core banking technology, shares rise

Tata Consultancy Services Ltd’s shares were up by 0.24 per cent after the company signed a deal to modernise the core banking technology of Burgan Bank. The bank will deploy TCS BaNCS™ to consolidate multiple standalone legacy applications into a universal banking solution to strengthen customer relationships.

The company said it will harness the products of the TCS BaNCS™ suite such as core and digital banking, payments, retail and corporate loan origination, wealth management, regulatory compliance, and more to simplify and digitally transform its technology landscape.  

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Tony Daher, Group Chief Executive Officer, Burgan Bank, said, “We have embarked on a very broad technology and digital transformation journey that will create an integrated banking ecosystem; one that not only meets the current market expectations but also exceeds them. 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. We have selected TCS BaNCS, which is widely used by banks in the region, to create a complete solution that will address our twin objectives of leading innovation and delivering excellent customer experience.”  

The shares were up by 0.24 per cent to ₹3,831 at 3 pm on the BSE.  

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