Burgan Bank in core banking software modernisation with TCS Bancs
Kuwait-based Burgan Bank has embarked on a core banking modernisation journey with Tata Consultancy Services (TCS). The bank will implement TCS Bancs, the long-standing, flagship universal core banking system supplied by the vendor.
Burgan Bank in major core banking tech revamp with TCS
TCS Bancs will replace a host of legacy platforms at the bank, including the ICS Banks core banking system from regional supplier ICS Financial Systems (ICSFS), FinTech Futures understands.
The new integrated solution will support core and digital banking, payments, retail and corporate loan origination, wealth management, and regulatory compliance at Burgan Bank, spanning corporate, retail, and private banking.
The bank will also deploy TCS’s Quartz for Compliance solution for end-to-end anti-money laundering (AML) and know your customer (KYC) capabilities across all business lines.
“We have embarked on a very broad technology and digital transformation journey that will create an integrated banking ecosystem; one that not only meets the current market expectations but also exceeds them,” says Tony Daher, group chief executive officer at Burgan Bank.
He says the new technology will help the bank innovate, provide “personalised offerings and intuitive, streamlined experiences” to its clients, and “pave the way for sustainable growth”.
Burgan Bank is a majority-owned subsidiary of Kuwait Projects Company (KIPCO), one of the largest holding companies in the MENA region. It has a regional network of over 160 branches and 360 ATMs.
TCS is a well-established banking tech player in the Middle East with over 150 customers across the region, including Bank Muscat, National Bank of Bahrain, Oman Housing Bank, Qatar Development Bank, Saudi Real Estate Refinance Company (SRC), and TAIB Bank, among others.
