Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions, has announced a significant partnership with Burgan Bank, one of Kuwait’s leading commercial banks. This strategic alliance aims to overhaul Burgan Bank’s core banking technology using the TCS BaNCS solution, a move set to enhance the bank’s operational efficiency and customer service capabilities.

Transforming Banking Operations with TCS BaNCS

Burgan Bank will implement the TCS BaNCS suite to replace several outdated standalone legacy systems with a modern, unified banking solution. This comprehensive suite includes modules for core and digital banking, payments, and wealth management among others. The upgrade is designed to handle increased transaction volumes, boost automation, and elevate staff productivity. With its rich set of APIs, TCS BaNCS will enable Burgan Bank to offer an integrated banking experience to its diverse clientele, encompassing corporate, retail, and private banking segments.

A Comprehensive Digital Shift

According to Tony Daher, Group CEO of Burgan Bank, this technology and digital transformation journey is crucial for the bank. He emphasized that modernizing core systems will propel Burgan Bank towards innovative service delivery and exceptional customer experiences, fostering sustainable growth. TCS BaNCS, noted for its deployment across the Middle East, promises a robust digital core built on a modular and open architecture, which allows for rapid development of new customer-centric solutions.

TCS’s Commitment to Innovation and Compliance

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, remarked on the collaboration’s significance, highlighting TCS BaNCS’s strong regional presence and proven track record. The platform will offer Burgan Bank advanced capabilities like end-to-end AML/KYC, enhancing compliance across all its operations.

Strengthening TCS’s Presence in the MEA Region

This partnership reaffirms TCS’s role as a leading digital transformation partner in the Middle East and Africa (MEA) region, where it has been active for over three decades. With a substantial workforce and numerous accolades for its workplace environment, TCS continues to expand its influence and capabilities across the region.

TCS’s strategic partnership with Burgan Bank marks a pivotal moment in the banking sector’s digital transformation journey in Kuwait. By integrating TCS BaNCS, Burgan Bank is not only poised to enhance its operational efficiencies but also set to redefine customer interactions through innovative digital solutions. This move is expected to set a benchmark in the region, demonstrating the potential of advanced banking technologies to drive significant improvements in service delivery and customer satisfaction.

  Burgan Bank, core banking transformation, digital banking innovation, Tata Consultancy Services, TCS BaNCS