Tata Consultancy Services (TCS) has announced that its universal financial services platform, TCS BaNCS has been selected by AmBank to replace its core banking engine. This integrated banking suite, spanning conventional and Islamic banking, will support both retail banking and lending functionalities.
Cheah Tek Kuang, Group Managing Director, AmBank Group said, “To grow our business and support customers across both conventional and Islamic finance, it was critical to have a technically robust and functionally rich core banking system. Among the many criteria that were evaluated were TCS’ implementation experience across multiple markets; the high satisfaction levels of TCS BaNCS customers; and TCS BaNCS’ commitment to relevant product development and extensive support. It was only natural that TCS BaNCS would be our preferred solution of choice.”
N Ganapathy Subramaniam, President, TCS Financial Solutions said, “Our partnership with AmBank exemplifies TCS BaNCS value proposition of enabling transformation through a modern, scalable solution, leveraging the best practices consolidated through our “alpha model office.” Through this implementation, AmBank will meet the varied needs of a diverse customer base while also positioning itself for future growth. We look forward to taking this partnership further with our regional support center and Islamic Finance Center of Excellence in Malaysia.”