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

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.

• 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

Answer: C) 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.