Commercial Bank of Kuwait collaborates with TCS for technology upgradation

TCS BaNCS for Treasury, a cross-asset-class solution, which is intelligent, agile & automated, will help CBK offer a wider range of cash as well as derivative treasury products.

A leading global IT services, consulting & business solutions organisation, Tata Consultancy Services (TCS) announced its collaboration with one of the largest financial institutions in Kuwait i.e. Commercial Bank of Kuwait (CBK) for Treasury to manage risk better, enhance asset class coverage and drive future growth.  

The bank was looking for a modern, integrated treasury solution for its treasury operations to help them transform into a new generation asset class with enhanced risk management ensuring regulatory compliance. TCS BaNCS for Treasury, a cross-asset-class solution, which is intelligent, agile & automated, will help CBK offer a wider range of cash as well as derivative treasury products. It will also integrate various trading and messaging platforms; manage cash & positions in real time along with offering extensive accounting as well as reporting capabilities.   

This front-to-back, cross-asset solution will enable the bank to lay a firm foundation for digitisation; thus, helping its customer base to expand. The integrated solution supports a range of asset classes such as cash products on the foreign exchange, money markets, fixed income, and equity with comprehensive straight-through processing, fully automated confirmation, settlement, clearing, collateral management, and dispute resolution along with integrated accounting.   

At 11.38 am on Monday, the share price of TCS was trading 1.13 per cent lower at Rs 3,342.50 on BSE. 

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