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Tata Consultancy Services has announced that its customer, the Kuwait Clearing Company (KCC), has upgraded from the existing version of TCS BaNCS to the new version with highly scalable architecture for market infrastructure. The move has helped KCC eliminate legacy systems like the registrar services system thereby minimising operational risks.
TCS BaNCS is a comprehensive, web-enabled product suite addressing Straight-Through-Processing across the entire capital market infrastructure value chain, encompassing Exchange Trading and Clearing with CCPs, Central Depository/Registry services and Market Surveillance.
With improved security, bulk authorisation features, and a complete multilingual system, providing Arabic reports, this enhanced solution was implemented by KCC well ahead of the timeline for the new trading software at the Kuwait Stock Exchange.
Mr Talal Al-ghanim, assistant general manager, KCC, said, ``This upgrade helps us offer improved customer services by supporting increasing transaction volumes, lowering operational windows and delivering above the expectations of market participants. In addition to the core depository platform, KCC removed many peripheral IT systems and replaced them with TCS BaNCS Market Infrastructure, including the registrar services platform.''
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