TCS to provide banking solution for Malaysia's AmBank

TCS to provide banking solution for Malaysia's AmBank

Tata Consultancy Services (TCS) today said Malaysia-based financial services group AmBank has decided to deploy the banking solution of the Indian software major.

This integrated banking suite, spanning conventional and Islamic banking, will support both retail banking and lending functionalities, TCS said in a statement .

By deploying 'TCS BaNCS', AmBank will see its banking business expand into new areas, while enabling flexible development and the scalability to meet market and regulatory needs, it added.

Though the financial details were not divulged, TCS said the solution was selected after an evaluation process of 18 months.

"This win further solidifies TCS' intent to set up a regional support centre for TCS BaNCS in Kuala Lumpur", it said.

"To grow our business and support customers across both conventional and Islamic finance, it was critical to have a technically robust and functionally rich core banking system," AmBank Group Managing Director Cheah Tek Kuang said.

TCS Financial Solutions President N Ganapathy Subramaniam said: "We look forward to taking this partnership further with our regional support centre and Islamic Finance Centre of Excellence in Malaysia."