TCS secures five-year contract for NORD/LBs technology transformation

TCS secures five-year contract for NORD/LBs technology transformation

Sep 28, 2021 11:09 IST capital market

Tata Consultancy Services has been selected by NORD/LB, a leading German commercial bank, as its strategic partner for its IT transformation.

NORD/LB has embarked on a transformation journey that targets a new business model by 2024, and a leaner, more agile operating model. It has partnered with TCS in this journey for the latters extensive knowledge of Germanys banking and financial services as well as its proven track record of executing large transformation programs.

As part of the five-year partnership, TCS will work with the bank to simplify and transform its application estate across multiple businesses - financial markets, wholesale and retail banking, through application consolidation and automation. TCS will help NORD/LB adopt newer technologies to automate manual processes in the application management environment and enhance operational resilience. Leveraging its deep knowledge of local banking norms, TCS will also build new features and functionality to support NORD/LB?s transformation goals.

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