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India's TCS bags mega deal with Burgan Bank

Thursday, May 23, 2024
India

Tata Consultancy Services (TCS), India's largest IT company, on Wednesday, announced that it has signed a mega deal with Burgan Bank, a leading commercial bank in Kuwait, to modernise its core banking technology. In an exchange filing, TCS said that the partnership reaffirms TCS’ position as a digital transformation partner of choice in the MEA region.

TCS will help Burgan Bank consolidate multiple standalone legacy applications into a contemporary universal banking solution that drives innovation and strengthens customer relationships. Burgan Bank is one of the youngest commercial banks in Kuwait, with a regional network of over 160 branches and 360 ATMs.

Burgan Bank will deploy TCS’ solution to manage higher transaction volumes, enhance automation, and improve staff productivity.

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.”

Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, added, “We are pleased to partner with a progressive institution such as Burgan Bank in their transformation journey. TCS BaNCS has a strong presence in Kuwait and the larger GCC region in the form of multiple mission-critical deployments of our solutions at leading institutions.”

With operations in nine countries across MEA, TCS boasts a workforce of over 9,000 employees serving more than 150 customers regionally.


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