Money & Banking

Commercial Bank of Kuwait selects TCS BaNCS for transforming treasury operations

Our Bureau Mumbai | Updated on June 28, 2021

The software product will help CBK offer a wider range of cash and derivative treasury products

Tata Consultancy Services (TCS) on Monday announced that the Commercial Bank of Kuwait (CBK) had picked TCS BaNCS for Treasury to transform its operations to manage risk better, enhance asset class coverage, drive future growth, and ensure regulatory compliance.

The software product will help CBK offer a wider range of cash and derivative treasury products, integrate various trading and messaging platforms, manage cash and positions in real time, and offer extensive accounting and reporting capabilities. This front-to-back, cross-asset solution will enable the bank to lay a firm foundation for digitisation and expand its customer base.

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TCS BaNCS rests on a digital core and comes with standardised and well-documented APIs that can seamlessly integrate with the existing IT landscape of CBK.

“With TCS BaNCS, we look forward to transforming our treasury operations, making our bank future ready, enhancing customer experience, easing regulatory compliance, and bringing in exotic asset classes to our product mix. We believe that our partnership with TCS will help us meet the challenges of the future,” Hussain Al Aryan, General Manager, Treasury & Investment Division, Commercial Bank of Kuwait, said in a statement.

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Venkateshwaran Srinivasan, Global Head, TCS Financial Solutions added, “This partnership further underscores our strong commitment to the Middle East market and is a testimony to our deep contextual understanding of the industry and local market practices.”

Published on June 28, 2021

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