Source Name: Tata Consultancy Services Ltd.

Oman Housing Bank to Enhance Operational Efficiency and Customer Experience with TCS BaNCS

Dec 09, 2015 15:00 IST

Mumbai, Maharashtra, India

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, announced that Oman Housing Bank (OHB) has selected TCS BaNCS Universal Banking to help deliver an enhanced end-customer experience in its endeavor to become a leading housing finance bank in the region.

OHB will replace home-grown legacy systems with a comprehensive solution from TCS BaNCS covering loans, deposits, origination, payments, funds transfer and compliance. The Bank was keen on transforming its technology landscape, and automating processes across myriad functions. A long and in-depth selection process resulted in OHB selecting TCS BaNCS over other short-listed solution providers---a testimony to TCS BaNCS fail-proof track record and the solution’s advanced breadth and depth of functionality.

Mr.Adnan Haidar Darwish, General Manager, Oman Housing Bank, commented on the transformation program and the implementation of TCS BaNCS, “Our selection of TCS BaNCS for Universal Banking reflects our desire to grow and align with new technology and provide a superior end-customer experience. A future-proof, market ready solution such as TCS BaNCS will help us in our growth plans and serve as a platform to build and evolve our technology ecosystem.”

N. Ganapathy Subramaniam, President, TCS Financial Solutions, said, “We have been working with more than 40 financial institutions in the Middle East and Africa. Oman Housing Bank selecting our universal banking platform is reflective of this commitment from TCS to the region and an endorsement of our next generation Java architected core banking platform. Our solution will help OHB drive customer centricity, innovation, will be a catalyst to enriching its footprint in the region.”

About Oman Housing Bank

Oman Housing Bank seeks to be pioneer in housing and construction process of the country and contribute to the economic progress and development in the Sultanate of Oman, by rendering distinguished service to its customers, specially to the low and medium income group of Omani citizens, also there by achieving the objectives of the shareholders, and contributing to the development of human capital through an efficient banking and attractive and motivated work environment.

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best–of-breed solutions that drive growth, reduce costs, mitigate risk and offer a faster speed-to-market for our clients. With a global customer base of more than 280 institutions operating in over 80 countries, TCS Financial Solutions deliver state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs.

About Tata Consultancy Services Ltd. (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 335,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $15.5 billion for year ended March 31, 2015 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.