BMB Investment Bank selects TCS BaNCS for Treasury
Tata Consultancy Services 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 and 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, CFO, BMB, said: “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, VP and co-head -TCS Financial Solutions, added: “A 100 percent 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.”
