BDB selects TCS BaNCS to speed up innovation

TDT | Manama

Tata Consultancy Services (TCS) announced that the Bahrain Development Bank (BDB), has selected the TCS BaNCS™ Global Banking Platform for its core banking transformation. The bank selected the frontto-back digital offering, TCS BaNCS, enabled with APIs and cognitive tools such as AI and analytics. The platform will help BDB meet the unique needs of the small and medium business segment spanning digital banking channels, origination, core banking, trade finance, treasury and supporting services like AML and reconciliations.

Khalid Al Rumaihi, Chairman, BDB, said, “With the selection of the comprehensive suite of offerings from the TCS BaNCS Global Banking Platform, which will be deployed on AWS, we are undertaking the core banking transformation and cloud migration of a three-decade-old platform, making it one of the first of its kind in the world. We will now be able to provide our clientele with omnichannel digital financial services and a launchpad for their businesses to grow and flourish.” Sanjeev Paul, Group CEO, BDB, said, “With the full solution stack being implemented by TCS, BDB will be able to transform our clients’ experience delivering new channels, and innovative products”. “We are pleased to be partnering with a bank that has a social and economic purpose which goes beyond conventional business objectives,” said Venkateshwaran Srinivasan, Head, TCS Financial Solutions.