’s goes live with TCS BaNCS

Bank Muscat has gone live with TCS BaNCS Universal Banking

Must Read

How to choose an effective DDoS mitigation plan

There are several flavours from which to choose when selecting an effective DDoS mitigation strategy. Most enterprises opt for one of the cloud protection flavours (always-on or on-demand)

How tech bolster security of online gaming platforms

The rise of online gaming and is evident throughout the world’s financial capitals with the UK, US, and a few other European nations at the forefront

Explained: The evolving nature of cybersecurity threats

Concerns such as hacking and the presence of computer viruses have existed for decades in one form or another. As technology evolved over the years, so did the cybersecurity  threats themselves.

Tata Consultancy Services said that Bank Muscat has gone live with Universal Banking for its fund and investment banking operations. This deployment is a strategic upgrade to its earlier platform solution and will provide extensive capabilities for multiple asset classes such as funds, equities, fixed income and money markets.

According to , business growth and the underlying complexity of operations were the key drivers for this upgrade to modern technology. Financial Solutions has been a strategic partner of Bank Muscat for the past 15 years and BaNCS’ advanced breadth and depth of this additional functionality will position the bank for higher growth and operational efficiency. Bank Muscat selected BaNCS Universal Banking after a long evaluation and selection process. This BaNCS’ upgrade will optimize the Bank’s operational efficiency and processes. The new solution will both enhance workflows and reduce time taken on fund and investment banking operations.

“With Bank Muscat going live on the latest version of TCS BaNCS Universal Banking, our partnership has moved to the next level. The bank will be able to leverage further improvements made in the latest release in cross-asset, mid-to-back-office capabilities for fund and investment banking and in turn enhance their stature in the region. This deployment in , further reinforces TCS BaNCS’ extensive leadership and customer footprint throughout the Middle East,” said R Vivekanand, Vice President and Co-Head of TCS Financial Solutions.

With assets worth over $31 billion, Bank Muscat is the leading financial services provider in Oman with a strong presence in Corporate Banking, Retail Banking, Investment Banking, Islamic Banking, Treasury, Private Banking and Asset Management. The bank has the largest network of 149 branches, 630 ATMs & CDMs and more than 14,000 PoS terminals. The international operations consist of a branch each in Riyadh (Kingdom of Saudi Arabia), Kuwait and a Representative Office each in Dubai (UAE) and Singapore.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Leave a Reply

*The moderation of comments is automated and not cleared manually by techobserver.in. Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

Sapience Analytics signs distribution agreement with Redington

Sapience Analytics and Redington said that they have entered into a distribution agreement where latter will resell the Sapience Vue solution through its network of over 30,000 channel partners, system integrators, and value-added resellers countrywide.
- Advertisement -SAP Hana

Related Articles