Thursday, March 28, 2024
-Advertisement-
Reimagining Public Sector Analytics
Reimagining Public Sector Analytics
HomeNewsEnterprise ITOman’s Bank Muscat goes live with TCS BaNCS

Oman’s Bank Muscat goes live with TCS BaNCS

Follow Tech Observer on Google News

Bank Muscat has gone live with TCS BaNCS Universal Banking

Google News

Tata Consultancy Services said that has gone live with BaNCS 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 TCS, business growth and the underlying complexity of operations were the key drivers for this upgrade to modern technology. TCS Financial Solutions has been a strategic partner of Bank Muscat for the past 15 years and ' advanced breadth and depth of this additional functionality will position the bank for higher growth and operational efficiency. Bank Muscat selected TCS BaNCS Universal Banking after a long evaluation and selection process. This TCS 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 ), Kuwait and a Representative Office each in Dubai (UAE) and Singapore.

Get the day's headlines from Tech Observer straight in your inbox

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
M Kalam
M Kalam
M Kalam covers technology and e-goverance for TechObserver.in.
- Advertisement -
Reimagining Public Sector Analytics
Reimagining Public Sector Analytics
- Advertisement -Veeam
- Advertisement -Reimagining Public Sector Analytics
- Advertisement -ESDS SAP Hana

Subscribe to our Newsletter

83000+ Industry Leaders read it everyday

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
- Advertisement -

How AI power struggle opens up new frontier in global geopolitics

The far-reaching influence AI has on information processing, national security, military operations, the economy, and strategic decision-making is set to reshape the geopolitical landscape and redefine the power dynamics between nations.

RELATED ARTICLES