Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions organization, announced that its customer, BMB Investment Bank – Bahrain, as part of its strategy to successfully transform its business reach to a higher network of clients & corporates, has selected TCS BaNCS for Treasury to drive outstanding innovation, customer experience and to streamline and enhance its operations with maximized Straight-through processing (STP).
The Bank under its new major stakeholders, felt a growing need to optimize its treasury technology.
The changing marketplace and its drive to cover international markets accelerated the push to offer innovative products and solutions to their customers. With heightened customer expectations and the internal need to streamline operations, BMB embarked on this treasury technology transformation.
Gaurav Baid, Chief Financial Officer, BMB, commented on the strategic role of technology in this transformation program, “The decision to transform treasury and risk management operations at BMB was driven by the need to optimize our treasury function and ensure focus on our core commitments and regulatory compliance. TCS BaNCS for Treasury is a perfect fit for supporting our current and future business needs, and also enable us to launch innovative solutions for our customers. We evaluated many alternatives but TCS platform aligned closely with our requirements. TCS BaNCS Treasury will help us to automate manual tasks and processes and drive innovation.”
R Vivekanand, Vice President & Co-Head -TCS Financial Solutions, said, “A 100% Java solution, TCS BaNCS Treasury is a state of the art offering. This platform selection by BMB is a prime example of the richness of the solution and further contributes to our long and successful performance track record in the Middle East.”
TCS BaNCS for Treasury is an integrated, cross-asset-class platform for front-, middle-, and back-office operations in a treasury function. It is a multi-entity, multi-currency, integrated trading, risk management, processing, settlements and accounting platform, covering specialized and diverse asset-class instruments. It will help the Bank streamline workflows and enable decision support by providing real-time, cross-asset-class risk analytics from a single system. The extensive array of asset classes and instruments also make it easier for the Bank to explore a wide range of instruments for portfolio diversification.