Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions, has announced a strategic partnership with the Bank of Bhutan to modernise the bank’s digital system for enhanced customer service.
The Indian IT company will implement its TCS BaNCS Global Banking Platform to optimise the bank’s operations and integrate with various public services within the digital ecosystem of Bhutan.
Bank of Bhutan is the largest commercial bank in Bhutan. It has a database of over four hundred thousand customers serviced through 45 branches. It offers a broad range of financial products and services.
TCS has been a technology partner for the bank since 2016, enabling its business growth. Building on this longstanding partnership, TCS will now deploy the TCS BaNCS Global Banking Platform.
The platform will give the bank access to an extensive set of components across the banking and payments sector, such as customer deposits, loan management, retail services, trade finance, pricing, and other functions.
Dorji Kadin, chief executive officer of Bank of Bhutan, said: “We remain committed to continuously innovating and enhancing customer experience. This (partnership with TCS) translates into offering personalised, comprehensive, high-performing financial products and services, including the capabilities required to support the countrywide digitisation and digital currency initiatives by the Kingdom of Bhutan.”
Built on an intelligent digital core, TCS’ solution will empower the bank to offer new, innovative products to the market quickly and ensure seamless customer experience. TCS BaNCS’ rich set of APIs will help the bank connect to third-party applications in the financial services ecosystem and create a platform to meet future business demands.
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“TCS BaNCS will help the Bank enhance operational efficiencies, automate processes across retail and corporate banking, making frictionless customer experiences a reality,” said Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS.
