TCS and Burgan Bank collaborate to improve core banking technologies; the stock rises

In order to improve client connections, the bank will implement TCS BaNCSTM to combine several independent legacy applications into a single banking solution.Shares of Tata Consultancy Services Ltd. increased by 0.24 percent following the company's agreement to update Burgan Bank's core banking system. In order to improve client connections, the bank will implement TCS BaNCSTM to combine several independent legacy applications into a single banking solution.The company announced that in order to streamline and digitally change its technological landscape, it will leverage the TCS BaNCSTM suite of products, which includes wealth management, retail and corporate loan origination, payments, core and digital banking, regulatory compliance, and more.

Burgan Bank's Group Chief Executive Officer, Tony Daher, stated: "We have started a very extensive digital transformation and technology journey that will create an integrated banking ecosystem; one that not only meets but exceeds the current market expectations." Our continuous focus on innovation and providing value to our clients by establishing tailored services and simple, clear experiences will be bolstered by modernizing our key systems. It will open the door for long-term, steady growth. We have chosen TCS BaNCS, which is extensively utilized by banks in the area, to develop a comprehensive solution that will fulfill our two goals of spearheading innovation and providing exceptional customer service.