PRESS RELEASE: Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions organization, announced that the Bank of Bhutan has selected TCS BaNCS for its Core Banking Solution to power its next generation banking services.
Bank of Bhutan is the largest commercial bank in the Kingdom of Bhutan with a network of 46 branches, including extension branches, 62 ATMs, a state-of-the-art mobile banking solution and a dedicated Contact Center, fulfilling the banking needs of the public, business community and the Royal Government of Bhutan. Bank of Bhutan is at present on the Oracle FLEXCUBE CBS platform, having implemented it in the year 2009. With a focused goal of moving onto a high-growth trajectory, the Bank has embarked on a project of upgrading its core banking system and has selected TCS BaNCS as the solution partner for this engagement and to replace the existing system, after an in-depth evaluation of shortlisted vendors from a broad array of leading IT software providers.
Bank of Bhutan attaches a high premium to the TCS brand, and is confident that TCS will deliver a high performance solution, combining a lower total cost of ownership and a significant improvement in operational efficiency. The Bank selected TCS BaNCS for Core Banking, an award-winning solution from a solution provider known for its Experience Certainty promise.
Pema Nadik, Chief Executive Officer, Bank of Bhutan, excited about the new transformation exercise, commented on the selection of TCS BaNCS saying, “We are confident that TCS BaNCS will help us transform our technology ecosystem in keeping with our plans for quick growth and expansion. TCS has an enviable track record of fail-proof core banking implementations across the globe which in turn, mitigates our core banking transformation risk. Its ability to reduce time to market for new bank offerings and to seamlessly integrate with third-party systems gives us the assurance that we have chosen the right partner.”
N Ganapathy Subramaniam, President, TCS Financial Solutions, commented on the Bank of Bhutan selection, saying, “We look forward to working with the Bank of Bhutan in its banking transformation initiative in the context of a strategic and personalized solution roadmap from TCS BaNCS. We wish to create a strong foundation for the Bank’s digital banking strategies with a focus on customer-facing ROI.”