TCS partners with Bank of Bhutan to transform its digital core

By Gloria Mathias

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 core for enhanced customer service.

TCS will implement its TCS BaNCS™ Global Banking Platform to help the bank optimise operations and seamlessly integrate with the various public services within the country’s digital ecosystem.

Bank of Bhutan, the largest commercial bank in Bhutan, 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 are happy to reinforce our partnership with TCS with the selection of the TCS BaNCS™ Global Banking Platform. We remain committed to continuously innovating and enhancing the customer experience. This translates into offering personalised, comprehensive, high-performing financial products and services, including the capabilities required to support the country-wide digitisation and digital currency initiatives by the Kingdom of Bhutan. The selection of the TCS BaNCS Global Banking Platform, which is designed and built on a modern technology stack with ecosystem enablers, reflects this philosophy. The solution will also serve as a platform for future programs such as the implementation of AI technologies across operational workflows to boost productivity.”

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.

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, said, “We are delighted with the Bank of Bhutan’s selection of the TCS BaNCS Global Banking Platform for its bank-wide transformation program. TCS BaNCS™will help the bank enhance operational efficiencies and automate processes across retail and corporate banking, making frictionless customer experiences a reality.”