India’s largest IT services provider Tata Consultancy Services (TCS), today announced that it will will implement TCS BaNCS Core Banking solutions at Deutsche Bank as its new core banking platform.
The move is part of a global initiative to transform the bank’s transaction banking platform in more than 30 countries. TCS BaNCS will replace several solutions with one modern, transaction-safe and cost-efficient platform. Financials have not been disclosed.
TCS BaNCS Core Banking provides transaction banking functionality including Account services, Interest and Charges, Limits and Facilities, Liquidity Management, Funds Transfer and Payments, Statements and Risk Management and Reporting. As a first step, Deutsche Bank migrated its GTB branch in Abu Dhabi to the new core banking platform on December 11. The branch opened in January 2010.
“This is a significant step of strengthening our global transaction banking (GTB) platform worldwide. It is further proof of our firm commitment to deliver best-in-class services to our clients. We expect the new platform to deliver significant improvements that will benefit our clients,” said Werner Steinmüller, Head of Global Transaction Banking and Member of the Group Executive Committee of Deutsche Bank.
