TCS signs major IT deals with Deutsche Bank and Indian Bank

TCS signs major IT deals with Deutsche Bank and Indian Bank

Summary: High gains on the stock exchange, expansion of BPO services out of India, TCS will now help Deutsche Bank deploy an integrated banking solution across 30 countries and offer Financial Inclusion services to Indian Bank.

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TOPICS: Banking
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Before I begin, Indian Bank is the name of an Indian bank.

With that cleared, it seems that TCS seems to be on a roll. Clocking their highest on the Bombay Stock Exchange, news is that Deutsche Bank will be using TCS BaNCS for their core banking services. The 10-year deal is slated as one of biggest for TCS. Though there is no official confirmation on the numbers, estimates put it above $50 million and in the range of a $100 million to $200 million.

TCS has currently around a 100 employees working on this project which is spread across Deutsche’s activities in 30 countries. Abu Dhabi is the first where the implementation has gone live. Ganapathy Subramaniam, president – TCS Financial Solutions explained that they will be responsible for integrating the various centers with a single-uniform core banking system (CBS) in place of the existing legacy system. TCS will see through the product implementation (3 to 5 years) & post implementation support.

Back home, TCS will be working with the Indian Bank to provide banking services in remote areas. In a 3 year 85 crore ($18.5 million) deal, TCS will deploy TCS BaNCS providing cloud based solutions for Indian Bank. With Smart card-based Financial Inclusion Solutions Indian Bank hopes to offer cost efficient banking services to the 41% unbanked Indian population.

Topic: Banking

Manan Kakkar

About Manan Kakkar

Telecommunication engineer with a keen interest in end-user technology and a News junkie, I share my thoughts while preparing for my Master's in Information Management.

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4 comments
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  • Are you the PR spokesman for these commercial outfits?

    Looks like a press release!

    except the drab 'joke' upfront!
    eCubeH
    • RE: TCS signs major IT deals with Deutsche Bank and Indian Bank

      @eCubeH I'll take that as a compliment :|
      Manan Kakkar
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