TCS Financial Solutions bags contract from National Commercial Bank for core banking solution
February 3, 2008

TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), dedicated to providing business application solutions to the banking, insurance and capital markets, today announced that long term client, National Commercial Bank, has awarded TCS Financial Solutions the contract to upgrade its core banking system.

Based in Jeddah, Saudi Arabia, National Commercial Bank is the largest Islamic bank in the region. To drive customer growth and enhance new product development initiatives, National Commercial Bank will be using TCS BaNCS latest release core banking, deposits, loans, Islamic banking and origination software. National Commercial Bank operates over 260 branches dedicated exclusively to Islamic banking services. As part of the upgrade, National Commercial Bank will also be implementing TCS BaNCS internet banking and browser-based front-end solution. National Commercial Bank operates 1,080 automated teller machines and 8,227 point-of-sale systems. National Commercial Bank continues to manage a comprehensive array of alternative channels including Al-Ahli Telephone Banking, Al-Ahli Mobile Banking, Al-Ahli Online, Al-Ahli Trade, Al-Ahli Tadawul, and Al-Ahli International Brokerage.

Taha Hussein, head of information technology, National Commercial Bank, says: "National Commercial Bank selected TCS BaNCS core banking solution based on TCS Financial Solutions' extensive Islamic banking and technology domain expertise, proven implementation skills and growing commitment to Saudi Arabia's banking and financial services market. Since 1992, the advanced functionality of TCS BaNCS core banking solution has provided National Commercial Bank with outstanding performance; it was a wise decision to upgrade with TCS BaNCS."

N Ganapathy Subramaniam, president, TCS Financial Solutions, adds: "National Commerical Bank in Saudi Arabia is a multiaward winning bank that is one of the most highly respected financial institutions in the region. Over the years we have developed a strong, long-term partnership with National Commercial Bank that has assisted both companies to continue to drive innovation in Islamic banking. This Shari'ah compliant upgrade will certainly add strength to National Commercial Bank's Islamic banking market growth strategy."

Published in March 2007, InternationaI Banking Systems positioned TCS BaNCS Core Banking solution in the top position within the 2006 International Banking Systems Sales League Table for private and retail banking. In addition, TCS BaNCS core banking solution was recently ranked China's No 1 core banking solution in 2006 by Independent Research firm IDC, a leading provider of global IT market research.

As a platinum sponsor of MEFTEC 2008, TCS Financial Solutions will be presenting its range of award winning business application solutions. A number of TCS BaNCS solutions will be showcased and delegates will be able to learn how TCS Financial Solutions can assist financial institutions to drive customer growth and reduce total cost of ownership.