Cen­tral Bank of Kuwait im­ple­ments TCS BaNCS

Banking Frontiers - - Regulator -

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.

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