Deutsche Bank implements TCS solution as core banking system

System will be used for Deutsche Bank's global transaction banking business

Deutsche Bank has announced it will implement a new core banking system from Indian integrator Tata Consultancy Services (TCS) called TCS BaNCS Core Banking.

The system will replace several legacy solutions that were developed in-house with one cost-efficient platform.

The new platform provides transaction banking functionality, including account services, interest and charges, limits and facilities, liquidity management, funds transfer and payments, statements, and risk management and reporting.

The solution is hosted at two regional hubs in Frankfurt and Singapore. Local Deutsche Bank sites will access services hosted in these locations through the cloud.

As a trial, Deutsche Bank migrated its global transaction banking branch in Abu Dhabi to the new platform on 11 December. The second country will be Saudi Arabia.

Commenting on the schedule for the project, N Ganapathy Subramaniam, president of TCS Financial Solutions, said: "The second country, Saudi Arabia, is already in user acceptance testing. We will trial two or three countries, then go for a rapid implementation over the next two to three years."

He added that the project should be complete across 30 sites by 2013.

Wolfgang Gaertner, chief information officer for core banking at Deutsche Bank, said: "We are investing in cost-efficient platforms to push for a high degree of industrialisation, standardisation of processes, and to support business growth."

About 270 clients use the TCS BaNCS platform worldwide.