Saudi Arabia-based Banque Saudi Fransi (BSF) has selected Indian IT giant Tata Consultancy Services (TCS) augment customer service experience.

The lender will deploy TCS BaNCS global banking platform across corporate and retail banking groups, Islamic banking, as well as payments.

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The software-as-a-service based integrated suite will replace the bank’s legacy systems with a modern banking and payments solution.

It will also enable the banking group to comply with the Saudi Arabian Monetary Authority (SAMA) guidelines.

Furthermore, the solution will help the Saudi bank to launch new products faster and integrate with third-party systems.

BSF COO Thamer Yousef said: “Our mission is to become the most modern, innovative and experience-focused bank in the region.

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“We believe that our partnership with TCS BaNCS will help us towards meeting the challenges of the future.”

TCS Financial Solutions head Venkateshwaran Srinivasan said: “Progressive banks are seeking to differentiate themselves in a Business 4.0 world by investing in technology to enable mass personalization and to leverage ecosystems.

“Our strong product vision and roadmap has made TCS BaNCS the preferred digital core to help them become future-ready.”

This latest contract builds on the series of partnerships that TCS has built with various banks over many years.

In June last year, Taiwan’s KGI Bank has implemented TCS BaNCS across its corporate and consumer banking operations.

Prior to that, Sweden’s Länsförsäkringar Bank deployed TCS BaNCS for Core Banking.