On December 3, 2024, Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions, announced a strategic partnership with the Bank of Bhutan. This collaboration aims to modernize the bank's digital core, helping it enhance customer experience and offer new, innovative financial products more quickly. TCS will deploy its TCS BaNCS™ Global Banking Platform, a cutting-edge solution designed to optimize operations and integrate seamlessly with Bhutan’s digital ecosystem.

The Importance of the Partnership: Bank of Bhutan (BoB), the largest commercial bank in Bhutan, services over 400,000 customers through its 45 branches. The bank offers a broad array of financial products and services, and this new partnership with TCS will build on the success of their longstanding relationship, which dates back to 2016. TCS has been a trusted technology partner for the bank, and the latest deployment of the TCS BaNCS Global Banking Platform marks the next phase of the bank's transformation journey.

The platform will provide BoB with a comprehensive suite of components to support customer deposits, loan management, retail services, trade finance, and more. It will help the bank offer personalized, high-performing financial products and services while facilitating the country’s digital currency and nationwide digitization initiatives.

Key Features of the TCS BaNCS Solution: TCS BaNCS is an intelligent digital core that empowers banks to innovate and respond quickly to market demands. The platform’s extensive API ecosystem allows for seamless integration with third-party applications, which will enhance BoB’s ability to meet future business needs. This solution will streamline the bank’s operations, automate processes across retail and corporate banking, and ultimately improve customer experience by making banking services frictionless and more efficient.

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Statements from Leadership:

• Dorji Kadin, CEO of Bank of Bhutan, highlighted the strategic importance of this partnership in driving the bank's commitment to innovation and customer-centric services. He emphasized that the new platform will enable the bank to support Bhutan’s digitization efforts and integrate emerging technologies like artificial intelligence (AI) for operational workflows.

• Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, expressed pride in the selection of TCS BaNCS, noting that the platform would enhance BoB’s operational efficiencies and provide a scalable solution for the bank’s growth.

Global Impact of TCS BaNCS: The TCS BaNCS platform is already processing banking transactions for over 30% of the global population. It supports two of the world’s largest core banking systems, managing 1 billion accounts. With its cloud-enabled solutions and robust APIs, TCS BaNCS is transforming financial institutions worldwide, helping them modernize from legacy systems and connect with new financial ecosystems.

About Bank of Bhutan: Founded in 1968 through a Royal Charter, the Bank of Bhutan is the oldest and largest commercial bank in the country. It has been instrumental in providing banking services across Bhutan, with 45 branches, 84 ATMs, and a state-of-the-art mobile banking solution. BoB continues to fulfill the banking needs of Bhutan's citizens, businesses, and the Royal Government of Bhutan.

About Tata Consultancy Services (TCS): TCS is a global IT services, consulting, and business solutions company, with over 612,700 consultants across 55 countries. A part of the Tata Group, TCS has been a key partner for businesses across industries, helping them transform and achieve operational excellence. TCS is recognized for its leadership in climate action and sustainability, earning a place in global sustainability indices.

For more information, visit www.tcs.com.

Contact Information:

• TCS Corporate Communications:
  Email: corporate.communications@tcs.com Phone: +91 22 6778 9999
  Email: saxena.kritika@tcs.com Phone: +91 22 6778 9595