D bank selects TCS core banking system
LONDON: Deutsche Bank is replacing multiple legacy systems with a banking platform from Tata Consultancy Services (TCS) as it updates its global transaction banking.
The bank has paid an undisclosed sum for TCS' BaNCS system, which will support operations in 30 countries.
BaNCS provides banking functionality including account services, interest and charges, liquidity management, funds transfer and payments, statements and risk management and reporting.
Wolfgang Gaertner, CIO for core banking at Deutsche Bank, said state-of-the-art information technology is crucial for a bank and for its clients.
"That is why we are investing in cost-efficient platforms to push for a high degree of industrialisation, standardisation of processes and to support business growth," he said. -PB News