Bank of Bhutan relies on digital transformation with Tata Consultancy Services

Bhutan's largest commercial bank, the Bank of Bhutan, has initiated a groundbreaking partnership with Tata Consultancy Services to fundamentally modernize its digital banking services. At the core of this collaboration is the implementation of the TCS BaNCS Global Banking Platform, which aims to optimize bank operations and seamlessly integrate into Bhutan's digital ecosystem. With 45 branches and over 400,000 customers, the bank plans to significantly expand its digital capabilities. TCS, having been the bank's technology partner since 2016, will further advance digitalization with the TCS BaNCS platform. The platform offers a comprehensive suite of banking and payment components, such as customer deposits, loans, and trade finance. Based on a digital core, it enables the bank to quickly bring new products to market and connect with external financial applications. Dorji Kadin, CEO of the Bank of Bhutan, is enthusiastic, emphasizing the bank's innovation drive, which is reflected in personalized, high-performance financial services. TCS BaNCS is also expected to serve as a platform for future projects like the implementation of AI to enhance productivity. Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, highlights the benefits of the new digital infrastructure: improved efficiency and automated processes promise seamless customer experiences, while local and international regulations are easily complied with.