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TCS signs IT Transformation deal with German bank NORD/LB and Partnership Agreement with Newgen to Facilitate BSB Project in Israel

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TCS picked for German bank NORD-LB’s IT makeoverThe Indian Information Technology (IT) company Tata Consultancy Services(TCS) has been selected by NORD/LB (Norddeutsche Landesbank Girozentrale) as the strategic partner for its IT transformation. NORD/LB  is a German Landesbank and one of the largest commercial banks in Germany.

At present,  TCS partners with over 100 leading German corporations which also include 20 of the DAX40 ( Deutscher Aktien Index—is a stock index of Germany).

Key points

i.It is a 5 year partnership, TCS will work with the bank and facilitate simplification and transformation of its application estate business in financial, wholesale and retail banking.

ii.TCS will also provide its IT and consultancy services to the bank. It will enhance the deep  penetration in the financial market, global delivery capabilities, customer focus and strong transformation capabilities of the bank.

Newgen partners with TCS to Facilitate  Banking Service Bureau Project in Israel

Newgen Software is collaborating  with Tata Consultancy Services (TCS) for their Flagship Banking Service Bureau (BSB) Project in Israel. They deploy an enterprise-wide content repository and a multi-channel, multilingual communication suite for the BSB in Israel.

Key points

i.BSB will get the service of  TCS core banking solution (TCS BaNCSTM) and Newgen will provide its digital transformation products, including Contextual Content Services (CCS) and omnichannel customer engagement.

ii.Newgen and TCS are enabling Israel’s central bank to transform the country’s banking sector by building a cloud-hosted centralized platform to provide end-to-end banking solutions.

iii.This partnership will help the Israels central bank to  build a robust content repository for secure document access as well as a comprehensive customer communication platform.

About NORD/LB (Norddeutsche Landesbank Girozentrale)

Headquarters: Hanover, Germany
Chair of Managing Board: Thomas Bürkle
Founded: 1 July 1970

About Newgen Software

Managing Director and Chairman-Diwakar Nigam
Founded– 1992

About TCS (Tata Consultancy Services)

Headquarters– Mumbai, Maharashtra
Chief Executive Officer– Rajesh Gopinathan
Founded– 1 April 1968