TCS Wins Deal To Modernise Kuwait-based Burgan Bank’s Core Banking System

Tata Consultancy Services (TCS) on Wednesday said it has secured a contract to modernise the core banking technology of Burgan Bank, a commercial bank in Kuwait. 

The agreement will look to consolidate Burgan Bank’s multiple legacy systems into a universal banking solution using TCS’s BaNCS suite. This transformation will help Burgan Bank enhance innovation and strengthen customer relationships.

Burgan Bank is one of Kuwait’s youngest commercial banks, which operates a regional network comprising over 160 branches and 360 ATMs. 

The implementation of TCS BaNCS will support various banking functions, including core and digital banking, payments, retail and corporate loan origination, wealth management and regulatory compliance. By simplifying its technology landscape, the bank aims to manage higher transaction volumes, improve automation and boost staff productivity. The solution’s rich set of APIs will also allow Burgan Bank to deliver integrated services across its corporate, retail, and private banking segments.

In a statement, Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, “TCS BaNCS has a strong presence in Kuwait and the larger GCC region in the form of multiple mission-critical deployments of our solutions at leading institutions. This selection by Burgan Bank is a testament to our continued investments in the TCS BaNCS product suite to make it market-ready, compliant with regulations and our commitment to successful execution.”