Bahrain Development Bank to leverage TCS BaNCS Global Banking Platform

Bahrain Development Bank (BDB) has selected the TCS BaNCS banking platform to accelerate the digital transformation of its core banking.

BDB wanted to move its banking platform to the cloud and follow the Government's initiative to move operations and infrastructure to the cloud platforms. To further this vision, BDB selected TCS BaNCS global banking platform to transform customer engagement through the delivery of contextual experiences, notes the announcement.

Group CEO, Bahrain Development Bank, Sanjeev Paul, said, "BDB’s digital transformation program is a key pillar of delivering on the Bank’s vision to build BDB as a sustainable, industry leader and trusted partner for entrepreneurs in Bahrain, helping them to grow their businesses into successful and regionally competitive enterprises. With the full solution stack being implemented by TCS, BDB will be able to transform our clients’ experience delivering new channels, and innovative products. With this visionary project Bahrain is once again leading the way in adopting full digital core banking on cloud, delivered using a SaaS model thereby assuring that the Bank is always at the cutting edge of technology."

Head, TCS Financial Solutions, Venkateshwaran Srinivasan, said, "We are pleased to be partnering with a bank that has a social and economic purpose which goes beyond conventional business objectives. Designed on the Digital First, Cloud First™ philosophy, TCS BaNCS will help BDB enhance agility, drive superior customer experiences and transform itself to meet the needs of an ever-evolving banking environment." 

BDB wanted to cater to small and medium business segment needs such as digital banking channels, origination, core banking, trade finance, treasury, and supporting services like AML and reconciliations. 

TCS BaNCS Global Banking Platform provides APIs and cognitive tools such as AI and analytics. The platform will help BDB meet the unique needs of the small and medium business segment spanning digital banking channels, origination, core banking, trade finance, treasury, and supporting services like AML and reconciliations. The TCS BaNCS will run on AWS cloud ensuring scalability, security, availability, and cost-efficiency.

BDB will also able to leverage TCS’ fintech partner ecosystem and thus further help in accelerating innovation. The platform will also interface with TCS’ partners for CRM, sales, risk management, and other enterprise functions, notes the announcement.