TCS agrees $50m deal with Deutsche Bank

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.

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.

In 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.

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