TCS to help German commercial bank NORD/LB in IT transformation

Tata Consultancy Services (TCS) said that it has been selected by German commercial bank NORD/LB to help in its IT transformation journey.

According to the Indian IT services provider, NORD/LB has launched a transformation program aimed at achieving a new business model by the year 2024, along with a leaner, more agile operating model.

Tobias Meiler — CIO of NORD/LB said: “NORD/LB is transforming its business to adapt to the latest trends and we decided it was time for us to look at the next step of technology transformation.

“After a thorough process, we selected TCS as the partner for this journey as they demonstrated deep market and financial domain expertise, global delivery capability augmented with strong German delivery, customer focus and strong transformation capabilities.”

Tata Consultancy Services, under the five-year partnership, will help the German commercial bank in simplifying and transforming its application estate across various businesses, including financial markets, wholesale and retail banking. These will be achieved via application consolidation and automation, said the Indian firm.

Besides, Tata Consultancy Services will enable NORD/LB in adopting newer technologies for automating manual processes in the application management environment and boost operational resilience.

The Indian IT firm will utilize its in-depth knowledge of local banking norms to develop new features and functionality for supporting the transformation goals of the German commercial bank.

Uma Rijhwani — Tata Consultancy Services Business Unit Head of Financial Services – Central Europe said: “TCS is a strategic partner for multiple leading financial institutions across the region, and has been driving IT landscape transformation, business innovation and growth. TCS is delighted to partner with NORD/LB, one of Germany’s largest commercial banks.

“We will leverage our deep domain knowledge and technology expertise to transform their IT landscape and help accelerate their growth and transformation journey.”

Recently, Tata Consultancy Services said that it had developed a new mobile app called Into Work Cardiff for the Cardiff Council in the UK.