24 March 2014
The National Commercial Bank (NCB) has embarked on the implementation of a new core banking information system that will transform the bank's use of technology to deliver customer service. The bank has entered into a contract with Tata Consultancy Services (TCS) to implement the state-of-the-art banking platform, TCS BaNCS, which will result in the replacement of many of the bank's existing software systems. The new system will support NCB's entire core banking operations, including branches, ATMs and online channels.
At a ceremony in Riyadh to sign the agreement between the two companies, Mansour Al-Maiman, Chairman of National Commercial Bank, said: "NCB recognizes how critical technology is to delivering best customer service in the Kingdom. Todays' announcement reflects the decision of the bank's board and management to invest heavily in the future. We have chosen TCS as our partner to implement software that will allow NCB to provide new products and services much faster, and to more customers, while continuing to deliver reliable services through all our banking channels."
"The bank's strategic technology architecture will be based on the Core Banking solution from TCS BaNCS, and we have assembled a joint team to guide the new core system implementation. The team has already implemented a demonstration branch and is planning to deploy the first new module over the coming months. Over 2014 and into the early part of next year, the new technology will be implemented across all areas of the Bank and will showcase fundamental changes in how we deliver banking products to our customers. Customers will soon see new products, less paper, faster service and less waiting time."
Al-Maiman further said "the next gen project demonstrates NCB's commitment to leveraging technology to improve the quality of its services delivered to customers. This is one among a number of major investments that NCB is making to implement new technology that will allow the Bank to meet the future needs and aspirations of the KSA community."
N Chandrasekaran, CEO and Managing Director of Tata Consultancy Services, said "by embarking on a Digital Re-imagination for NCB, a most valued TCS BaNCS customer, we will help transform significant aspects of the customer experience at the bank - beginning from the front-office to core applications, processes and data. The core banking solution from TCS BaNCS will help NCB simplify its technology and application landscape, enabling increased efficiency, and making it one of the best digital banks in the region. We are happy to partner with NCB and provide the greatest return from this transformation."
Saeed Al-Ghamdi, Chief Executive Officer at NCB, signed the agreement with N Chandrasekaran, the CEO and Managing Director of Tata Consultancy Services.
Al-Ghamdi said "this agreement showcases the Bank's focus on IT innovation and its commitment to deliver advanced banking solutions to our customers. We recognize the critical need to make investments that will maintain our leading position in the KSA banking market. The new core banking system from TCS BaNCS is only one part of a significant transformation program covering new branches, ATMs, Point-of-Sale, online and mobile technologies that will ensure that NCB customers have access to the most modern and efficient products and services. We have already implemented a number of new back-office systems that improve the way the NCB operates. Our new online presence will be launched shortly, together with exciting new applications for mobile phones and tablets. NCB customers can look forward to continued technology innovation."
The National Commercial Bank (NCB) has embarked on the implementation of a new core banking information system that will transform the bank's use of technology to deliver customer service. The bank has entered into a contract with Tata Consultancy Services (TCS) to implement the state-of-the-art banking platform, TCS BaNCS, which will result in the replacement of many of the bank's existing software systems. The new system will support NCB's entire core banking operations, including branches, ATMs and online channels.
At a ceremony in Riyadh to sign the agreement between the two companies, Mansour Al-Maiman, Chairman of National Commercial Bank, said: "NCB recognizes how critical technology is to delivering best customer service in the Kingdom. Todays' announcement reflects the decision of the bank's board and management to invest heavily in the future. We have chosen TCS as our partner to implement software that will allow NCB to provide new products and services much faster, and to more customers, while continuing to deliver reliable services through all our banking channels."
"The bank's strategic technology architecture will be based on the Core Banking solution from TCS BaNCS, and we have assembled a joint team to guide the new core system implementation. The team has already implemented a demonstration branch and is planning to deploy the first new module over the coming months. Over 2014 and into the early part of next year, the new technology will be implemented across all areas of the Bank and will showcase fundamental changes in how we deliver banking products to our customers. Customers will soon see new products, less paper, faster service and less waiting time."
Al-Maiman further said "the next gen project demonstrates NCB's commitment to leveraging technology to improve the quality of its services delivered to customers. This is one among a number of major investments that NCB is making to implement new technology that will allow the Bank to meet the future needs and aspirations of the KSA community."
N Chandrasekaran, CEO and Managing Director of Tata Consultancy Services, said "by embarking on a Digital Re-imagination for NCB, a most valued TCS BaNCS customer, we will help transform significant aspects of the customer experience at the bank - beginning from the front-office to core applications, processes and data. The core banking solution from TCS BaNCS will help NCB simplify its technology and application landscape, enabling increased efficiency, and making it one of the best digital banks in the region. We are happy to partner with NCB and provide the greatest return from this transformation."
Saeed Al-Ghamdi, Chief Executive Officer at NCB, signed the agreement with N Chandrasekaran, the CEO and Managing Director of Tata Consultancy Services.
Al-Ghamdi said "this agreement showcases the Bank's focus on IT innovation and its commitment to deliver advanced banking solutions to our customers. We recognize the critical need to make investments that will maintain our leading position in the KSA banking market. The new core banking system from TCS BaNCS is only one part of a significant transformation program covering new branches, ATMs, Point-of-Sale, online and mobile technologies that will ensure that NCB customers have access to the most modern and efficient products and services. We have already implemented a number of new back-office systems that improve the way the NCB operates. Our new online presence will be launched shortly, together with exciting new applications for mobile phones and tablets. NCB customers can look forward to continued technology innovation."
© The Saudi Gazette 2014
