TCS Partners with Bank of Bhutan to Enhance Digital Core and Customer Experience

Varahi media.com online news,MUMBAI, DECEMBER 3,2024: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has entered into a strategic collaboration with the Bank of Bhutan to modernize the bank’s digital infrastructure, enhancing its customer service capabilities.

TCS will deploy its TCS BaNCS™ Global Banking Platform to streamline operations and enable seamless integration with Bhutan’s digital ecosystem.

The Bank of Bhutan, the country’s largest commercial bank, services over 400,000 customers through its 45 branches, offering a wide range of financial products and services. TCS has been a trusted technology partner of the bank since 2016, helping it grow its business.

Building on this successful partnership, TCS will now implement the TCS BaNCS Global Banking Platform to provide the bank with access to a comprehensive suite of banking and payment services, including customer deposits, loan management, retail services, trade finance, pricing, and more.

Dorji Kadin, CEO of the Bank of Bhutan, expressed, “We are excited to strengthen our collaboration with TCS through the adoption of TCS BaNCS Global Banking Platform. This partnership aligns with our goal to continuously innovate and enhance the customer experience.

It will help us deliver high-quality, personalized financial products and services while supporting Bhutan’s nationwide digitalization efforts, including the introduction of digital currency.

The TCS BaNCS solution, built on a modern technology stack, will also serve as a foundation for future projects, including the integration of AI technologies to boost productivity across operations.”

TCS’s solution, built on a robust digital core, will enable the Bank of Bhutan to quickly roll out innovative products while ensuring a seamless customer experience. The rich API set of TCS BaNCS will also facilitate integration with third-party applications, helping the bank stay agile and meet future business demands.

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, commented, “We are thrilled that the Bank of Bhutan has chosen TCS BaNCS Global Banking Platform for its transformation program.

The platform will enhance operational efficiencies, automate processes across both retail and corporate banking, and create frictionless customer experiences. TCS BaNCS is designed to seamlessly connect with internal and external ecosystems, ensuring compliance with local and international regulations while offering scalability as the bank grows.”

TCS BaNCS processes banking transactions for over 30% of the global population, powering the core banking systems for some of the world’s largest financial institutions.

The platform enables financial organizations to manage risks, tap into new ecosystems, and create substantial value. It is widely used by banks, co-operatives, and financial institutions worldwide, with cloud-based components and applications that support the transition from legacy technologies to modern, API-driven systems.

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