TCS signs major IT deals with Deutsche Bank and Indian Bank

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.