QNB Selects the TCS BaNCS Global Securities Platform to Future-proof its Capital Markets Operations

QNB Selects the TCS BaNCS Global Securities Platform to Future-proof its Capital Markets Operations
25.09.2019 11:07 am

QNB Selects the TCS BaNCS Global Securities Platform to Future-proof its Capital Markets Operations

Consultancy

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, announced that QNB Group, the largest financial institution in the Middle East and Africa, has selected the TCS BaNCS™ Global Securities Platform (GSP) to support the digital transformation of its capital markets operations.

QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents, providing a comprehensive range of advanced products and services. The Bank’s growth strategy is to further expand its presence internationally, launching innovative products and a superior customer experience across the trade lifecycle, leveraging the latest technologies such as AI and Machine Learning.

To support this strategy, QNB has selected the TCS BaNCS Global Securities Platform, a future-proof post-trade solution that can support an integrated securities back-office across multiple asset classes, channels, markets and users. The platform also supports QNB’s digital transformation roadmap and future innovation plans.

Adel Al-Malki, General Manager - QNB Group Information Technology, said,“We have been working with TCS since 2013, and the firm has supported our global expansion efforts through advanced IT solutions. TCS’ services have enabled multi-market, multi-currency, straight-through settlements and corporate actions processing at depositories outside Qatar, while also strengthening our leading local presence.”

He added,With the ongoing upgrade to the TCS BaNCS Global Securities Platform, we will be able to tap into a comprehensive and contemporary solution tailor-made to the market demands of today. Our vision is to grow our global footprint while keeping a firm eye on our local roots, and this is where a superior solution like TCS BaNCS will give us the scale that we are looking for and the ability to connect and tap into larger ecosystems.”

R Vivekanand, Co-Head, TCS Financial Solutions, said,“We believe that for firms to become agile, and create exponential value for their customers, they will have to proactively harness new technologies, and create innovative value propositions. The TCS BaNCS Global Securities Platform offers QNB a rich set of features to meet future performance needs, and rapid growth in channels, users, markets and applications. Designed for the Digital First, Cloud First, Business 4.0™ world, the solution comes with the largest collection of capital markets components made available through the cloud and a set of cognitive tools that enable intelligent decision making and enhanced end customer experiences.” 

Related News

Digiterre Launches DataMax to Help Technology Teams Accelerate Growth in Data-Driven Organisations

Digiterre, a software and data engineering consultancy, today announced the launch of DataMax, an enterprise platform for technology teams to manage and analyse big data.  It... Read more »

Know Your Customer is the driving force behind CSLB-Asia's KYC compliance in corporate services

CSLB-Asia, providers of family office, corporate secretarial and commercial business consultancy services, have announced their collaboration with award-winning RegTech company... Read more »

Länsförsäkringar Bank Wins Award for Core Transformation Powered by TCS BaNCS

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that its customer and one of... Read more »

Creatio partners with Tata Consultancy Services to drive customer experience across marketing, sales and services

Creatio (formerly bpm’online), a global software company providing a leading low-code... Read more »

GreenKite Names Professor Dean Fathers as Chairman

GreenKite, an independent Professional Services Firm for Insurance and Financial Services, is delighted to announce the appointment of Dean Fathers; experienced entrepreneur,... Read more »

ACI FMA partners with Axiom Global Advisors to boost industry-wide FX Global Code implementation

The ACI Financial Markets Association (ACI FMA) has today announced a partnership with Axiom Global Advisors (Axiom) to help Market... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel