India-headquartered Tata Consultancy
Services (TCS) has signed one of the year’s biggest banking IT
deals – an agreement worth more than an estimated $50 million to
supply Deutsche Bank’s Global Transaction Banking (GTB) unit with a
new core banking system.
In terms of the deal, TCS’ BaNCS software
will be implemented in more than 30 countries where Deustche’s GTB
unit operates.
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Klaus Thoma of Deutsche Bank told
RBI that, in the majority of countries, TCS’ BaNCS
software will replace ageing in-house legacy systems and will take
six to seven years for the IT replacement programme to be
completed.
As a first step, Deutsche migrated its GTB
business unit in Abu Dhabi to TCS’ system on 11
December.
N Ganapathy Subramaniam, president,
financial solutions at TCS, said:”This is one of the largest deals
for Tata Consultancy from a core banking perspective.”
While the TCS/Deutsche Bank deal provides
fresh evidence of an increased apetite for banks to outsource IT
services, Thoma stressed that it did not relate to the bank’s
retail operations in Germany.
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By GlobalDataIn January, Deutsche Bank announced a
multi-year deal to replace its
retail banking IT systems in Germany with a unified core banking
platform based on technology from
SAP.
