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TCS Signed a Core Banking Deal With Kuwait’s Burgan Bank

Published on May 25, 2024
Current Context: On May 22, 2024, Tata Consultancy Services (TCS), a global IT services leader, signed a deal with Kuwait’s Burgan Bank to modernize its core banking technology.
TCS Signed a Core Banking Deal With Kuwait’s Burgan Bank
  • The bank will deploy TCS BaNCS, a universal banking solution, to consolidate multiple standalone legacy applications, manage higher transaction volumes, enhance automation, and improve staff productivity.
  • This transformation will enable Burgan Bank, a regional network of over 160 branches and 360 ATMs, to simplify and digitally transform its technology landscape.
  • The deal is a significant milestone for TCS, which is witnessing increased growth in emerging markets, including the Middle East.

Question:

1. What is the purpose of the TCS and Burgan Bank deal?

  • A) To launch a new banking product
  • B) To expand TCS’s business in Kuwait
  • C) To modernize Burgan Bank’s core banking technology
  • D) To merge the two companies
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