Commercial Bank of Kuwait selects TCS' BaNCS for treasury solutions

Bengaluru: Commercial Bank of Kuwait has selected Tata Consultancy Services Ltd.'s 'BaNCS for Treasury' solution to "manage risk better, enhance asset class coverage, and drive future growth", India's largest IT services firm said on Monday.

Commercial Bank of Kuwait (CBK) was looking for a modern, integrated treasury solution to help transform its treasury operations and offer new generation asset classes, enhance risk management, and ensure regulatory compliance. "TCS BaNCS for Treasury will help CBK offer a wider range of cash and derivative treasury products, integrate various trading and messaging platforms, manage cash and positions in real time, and offer extensive accounting and reporting capabilities," the Tata Group company said.

"We selected TCS BaNCS for its breadth and depth of functionality and successful track record of treasury programmes deployed at leading financial institutions in the region," Hussain Al Aryan, general manager-treasury and investment division at Commercial Bank of Kuwait, said.