TCS BaNCS is built on a digital core that will enable the Bank of Bhutan to quickly bring new products to the market. Credit: Below the Sky/Shutterstock.

Bank of Bhutan, the country’s largest commercial bank, has entered a partnership with Tata Consultancy Services to overhaul its digital banking services.

This collaboration will see the deployment of the TCS BaNCS Global Banking Platform, aimed at optimising the bank’s operations and integrating with the public services within Bhutan’s digital ecosystem.

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Bank of Bhutan serves over four hundred thousand customers through 45 branches.

TCS, which has been the bank’s technology partner since 2016, will now enhance the bank’s digital capabilities with the TCS BaNCS platform.

This platform will provide an extensive suite of banking and payment components, including customer deposits, loans, and trade finance.

TCS BaNCS is built on a digital core that will enable the Bank of Bhutan to quickly bring new products to the market.

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Its APIs will facilitate connections with third-party financial applications, creating a versatile platform for future business needs.

Bank of Bhutan CEO Dorji Kadin expressed enthusiasm about the partnership, stating: “We remain committed to continuously innovating and enhancing customer experience. This translates into offering personalised, comprehensive, high-performing financial products and services, including the capabilities required to support the country-wide digitisation and digital currency initiatives by the Kingdom of Bhutan.

“The selection of the TCS BaNCS Global Banking Platform that is designed and built on a modern technology stack with ecosystem enablers reflects this philosophy. The solution will also serve as a platform for future programmes such as the implementation of AI technologies across operational workflows to boost productivity.”

TCS Global Head of Financial Solutions Venkateshwaran Srinivasan highlighted the benefits of the digital core: “TCS BaNCS will help the Bank enhance operational efficiencies, automate processes across retail and corporate banking, making frictionless customer experiences a reality. TCS BaNCS’s digital core is designed to help banks seamlessly connect with their external and internal ecosystems, ensuring compliance with local and international regulations, while also providing for scalability as their business grows.”