Burgan Bank Partners with TCS for Core Banking Modernization

Kuwait-based Burgan Bank has announced a major core banking modernization initiative in partnership with Tata Consultancy Services (TCS). The bank will implement TCS Bancs, a flagship universal core banking system, replacing multiple legacy platforms including the ICS Banks core banking system from ICS Financial Systems.

The new integrated solution will cover core and digital banking, payments, retail and corporate loan origination, wealth management, and regulatory compliance across Burgan Bank’s corporate, retail, and private banking divisions. Additionally, the bank will deploy TCS’s Quartz for Compliance solution to enhance its anti-money laundering (AML) and know your customer (KYC) capabilities.

Tony Daher, Group CEO at Burgan Bank, stated, “We have embarked on a broad technology and digital transformation journey that will create an integrated banking ecosystem. This will not only meet but exceed current market expectations.” Daher emphasised that the new technology will enable the bank to innovate and provide personalised, streamlined experiences to clients, paving the way for sustainable growth.

Burgan Bank, a majority-owned subsidiary of Kuwait Projects Company (KIPCO), operates a regional network of over 160 branches and 360 ATMs. TCS is a prominent banking technology provider in the Middle East, serving over 150 customers in the region, including notable institutions like Bank Muscat and the National Bank of Bahrain.

This modernization effort underscores Burgan Bank’s commitment to leveraging advanced technology to enhance operational efficiency and customer service.