TCS signs 5-year IT deal with German bank NORD/LB

IT services major Tata Consultancy Services (TCS) has been selected by NORD/LB, a leading German commercial bank, as its strategic partner for its IT transformation. The financial details of the deal were not disclosed. NORD/LB has embarked on a transformation journey that targets a new business model by 2024, and a leaner, more agile operating model. It has partnered with TCS in this journey. As part of the five-year partnership, TCS will work with the bank to simplify and transform its application estate across multiple businesses – financial markets, wholesale and retail banking, through application consolidation and automation. “NORD/LB is transforming its business to adapt to the latest trends and we decided it was time for us to look at the next step of technology transformation,” said Tobias Meiler, CIO, NORD/LB.