Key Points
- TCS will upgrade Bank of Bhutan’s digital banking system.
- The TCS BaNCS Global Banking Platform will streamline operations and improve the customer experience.
- Bank of Bhutan, the largest bank in the country, serves over 400,000 customers.
- The platform will support Bhutan’s digital currency and digital growth initiatives.
- TCS has been working with the bank since 2016.
- This deal marks TCS’s continued expansion into digital banking in emerging markets.
Looma News
Tata Consultancy Services (TCS) has entered into a deal with the Bank of Bhutan to update its digital banking system, announced on December 3, 2024. TCS will implement the TCS BaNCS Global Banking Platform to improve the bank’s operations and enhance its customer experience. This upgrade will help the Bank of Bhutan, the country’s largest commercial bank with over 400,000 customers across 45 branches, improve its digital services.
The new platform will offer a wide range of banking services, including customer deposits, loan management, retail services, and trade finance. It will also allow the bank to develop new financial products more quickly and integrate smoothly with Bhutan’s growing digital ecosystem. Dorji Kadin, CEO of Bank of Bhutan, highlighted the importance of this partnership in supporting the country’s digital transformation and digital currency goals.
TCS’s global banking platform is trusted by over 30% of the world’s population and processes transactions through two of the largest core banking systems. This deal builds on the technology collaboration between TCS and Bank of Bhutan that began in 2016. It also underscores TCS’s continued push into digital banking solutions in emerging markets, as the need for modern financial technology grows worldwide.
