TCS bags deal from Saudi Arabia

Mumbai: The country’s largest software exporter Tata Consultancy Services is said to have bagged a deal to implement its core banking platform at Saudi Arabia’s National Commercial Bank.

International media reports suggest that the contract, which is valid for two years, is part of the Jeddah-based institutions’ strategy to develop electronic services and provide technology-based banking solutions.

A spokesperson for TCS did not the comment on the development. Financial details of the engagement could not be ascertained.

TCS provides a range of retail banking solutions under BaNCS, a suit of core banking suite.

“It has been our endeavour to provide the highest levels of service to customers through the provision of advanced and technically sophisticated service channels with the highest standards of security providing them with more reassurance,” NCB said in a statement to Arab News.

NCB was the first Saudi bank to be licensed and the biggest in the Kingdom. It is said to be one of the pioneers in the Islamic banking and finance space.