National Bank of Bahrain(NBB) has selected TCS BaNCS for Core Banking solution in a bid to achieve digital transformation with a diversified business line, enhanced customer experience and an extended market reach.

The solution is expected to simplify NBB’s market operations and assist the bank in its goal to integrate with regional fintechs and expand its presence. The partnership will enable NBB to utilize BaNCS’ open APIs, digitalized workflows and cognitive capabilities for its market expansion strategy.

The solution, as the supplier states, caters to areas such as customer management, loans, deposits, payments, origination, Islamic banking and liquidity management for retail and corporate banking. It is expected to enable a unified customer experience along with multi-country and multi-entity capabilities.

Iain Blacklaw, Chief Operating Officer, NBB, said, “As part of our ongoing journey of transformation, we are pleased to announce another milestone in this process with the selection of TCS BaNCS. This will modernize our IT landscape, lay a strong foundation for digitalization and offer a consistent and contextual experience to our customers. Our goal is to unlock new revenue streams by leveraging larger and extended ecosystems, introduce new products quickly, and expand our customer base across multiple countries in the region.”

“In the Business 4.0TM economy, forward-thinking organizations like NBB are empowering consumers, business customers, and partners by leveraging the power of ecosystems and connectedness,” said Venkateshwaran Srinivasan, Head, TCS Financial Solutions. “With the selection of TCS BaNCS for Core Banking, spanning retail and business banking, NBB will be able to establish a customer-centric, experience-led foundation and create newer business models that drive value for their customers and partners alike. We are happy to be partnering with NBB on this transformational journey.”

The TCS BaNCS for Core Banking solution boasts of open banking capabilities and supports a variety of products and services covering assets, liabilities and has been implemented at 450 sites.

Established in 1957, National Bank of Bahrain, incorporated under the laws and regulations of the Kingdom of Bahrain, provides retail and commercial banking services.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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