TCS, NCB ink pact to implement core banking platform

Pact involves implementation of a new core banking software platform that is likely to 'transform' the bank's customer service delivery system

A leading Saudi Arabian Bank and Tata Consultancy Services (TCS) have inked a pact to implement a new core banking software platform that is likely to "transform" the bank's customer service delivery system.

The state-of-the-art banking platform -- TCS BaNCS -- will replace the existing software systems and support National Commercial Bank's (NCB) entire core banking operations, including ATMs and online channels.

"Today's announcement reflects the decision of the bank's board and management to invest heavily in the future," NCB chairman Mansour Al-Maiman said.

"We have chosen TCS as our partner to implement software that will allow NCB to provide new products and services much faster, and to more customers, while continuing to deliver reliable services through all our banking channels," he said.

Al-Maiman said the first new module will be deployed over the coming months.

"Customers will soon see new products, less paper, faster service and less waiting time," he said.

N Chandrasekaran, CEO and MD of TCS, said: "By embarking on a digital re-imagination for NCB, a most valued TCS BaNCS customer, we will help transform significant aspects of the customer experience at the bank - beginning from the front-office to core applications, processes and data.