Central Bank of Kuwait implements TCS BaNCS
The Central Bank of Kuwait said it has upgraded its technology platform using TCS BaNCS from Tata Consultancy Services. The bank had taken up the digital transformation some 5 years ago and selected TCS BaNCS for its open architecture, rich functionality, implementation track record and longstanding partnerships with other in the Middle East. The solution automates the core processes associated with government securities, such as issuance, repo, OTC, coupons, and redemption. The platform interfaces with data feeds and market applications and enable straight-through processing. It also provides services for government entities and banks, information security controls and reporting practices.