Deutsche Bank Abu Dhabi: first branch to operate with the new core banking system
Deutsche Bank and Tata Consultancy Services today announced that Deutsche Bank will implement TCS BaNCS Core Banking as its new Core Banking Platform for Global Transaction Banking (GTB).
The move is part of a global initiative to transform the bank’s transaction banking platform in more than 30 countries. TCS BaNCS will replace several solutions with one modern, transaction-safe and cost-efficient platform. Financials have not been disclosed.
TCS BaNCS Core Banking provides transaction banking functionality including Account services, Interest and Charges, Limits and Facilities, Liquidity Management, Funds Transfer and Payments, Statements and Risk Management and Reporting. As a first step, Deutsche Bank migrated its GTB branch in Abu Dhabi to the new core banking platform on December 11. The branch opened in January 2010.
Ashok Aram, CEO Deutsche Bank MENA: “We are proud that Abu Dhabi is the first branch to operate with the new platform. Through our Abu Dhabi branch we are delivering Deutsche Bank’s expertise and global reach to clients in the UAE, further developing our presence as one of the leading foreign investment banks in the UAE and the region.”
Werner Steinmüller, Head of Global Transaction Banking and Member of the Group Executive Committee of Deutsche Bank said: “This is a significant step of strengthening our GTB platform worldwide. It is further proof of our firm commitment to deliver best-in-class services to our clients. We expect the new platform to deliver significant improvements that will benefit our clients”.
Wolfgang Gaertner, Chief Information Officer Core Banking Deutsche Bank, added: “State-of-the-art information technology is crucial for a bank and for its clients. That is why we are investing in cost-efficient platforms to push for a high degree of industrialization, standardization of processes and to support business growth”.
N. Ganapathy Subramaniam, President – TCS Financial Solutions said “This stellar partnership with Deutsche Bank is a crowning moment for us. Deutsche Bank demonstrated rightly that technology is the inexorable choice for large financial institutions to become faster, more efficient and offer seamless customer experience.”
For further information, please call:
Deutsche Bank AG
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Phone: +971 4 428 3860
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Deutsche Bank is a leading global investment bank with a strong private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 80,000 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.