Tech: The Bank of Bhutan will shift from it current Oracle flexcube Core banking solution to TCS BaNCS, developed by Tata consultancy services to improve its efficiency.
As per the newsletter of Tata consultancy service, the TCS BaNCS is next generation banking services.
Currently BoB is in the process of replacing the existing hardware with more powerful new hardware. By January next year, the new system would be fully functional and this is expected to resolve all issues with B-Wallet transactions.
The need to replace the system was because of the increasing users. For instance, B-wallet user has increased from 13,354 in 2013 to 22,959 last year.
An official from the bank said the present CBS dealers have, after a multiple analysis, provided a number of fixes and performance tuning suggestions.
All these have been implemented, he said but none of them have yielded any substantial improvement.
“We are confident that TCS BaNCS will help us transform our technology ecosystem in keeping with our plans for quick growth and expansion,” Bank’s Chief Executive Officer, Pema Nadik said. “TCS has an enviable track record of fail-proof core banking implementations across the globe.”
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 market industries worldwide.