NCB in core banking deal with TCS
Mumbai, February 3, 2008
National Commercial Bank (NCB) has awarded TCS Financial Solutions the contract to upgrade its core banking system.
TCS Financial Solutions is the strategic business unit of Tata Consultancy Services (TCS) dedicated to providing business application solutions to the banking, insurance and capital markets.
To drive customer growth and enhance new product development initiatives, the Jeddah-based bank will be using TCS BaNCS latest release core banking, deposits, loans, Islamic banking and origination software, the company said in a statement.
NCB operates over 260 branches dedicated exclusively to Islamic banking services. As part of the upgrade, the bank will also be implementing TCS BaNCS Internet banking and browser based front-end solution. National Commercial Bank operates 1,080 Automated Teller Machines and 8,227 Point-of-Sale systems, it added.
The bank continues to manage a comprehensive array of alternative channels including Al Ahli Telephone Banking, Al Ahli Mobile Banking, Al Ahli Online, Al Ahli Trade, Al Ahli Tadawul, and Al Ahli International Brokerage.
“National Commercial Bank selected TCS BaNCS Core Banking solution based on TCS Financial Solutions extensive Islamic banking and technology domain expertise, proven implementation skills and growing commitment to Saudi Arabia’s banking and financial services market. Since 1992, the advanced functionality of TCS BaNCS Core Banking solution has provided the bank with outstanding performance; it was a wise decision to upgrade with TCS BaNCS,” said Taha Hussein, the bank’s head of information technology.
“The bank is a multi-award winning bank that is one of the most highly respected financial institutions in the region. Over the years we have developed a strong, long-term partnership with National Commercial Bank that has assisted both companies to continue to drive innovation in Islamic banking. This Shari’ah compliant upgrade will certainly add strength to National Commercial Bank’s Islamic banking market growth strategy,” said TCS Financial Solutions President N Ganapathy Subramaniam. – TradeArabia News Service