Emirates NBD transforms its international payments operations with TCS BaNCS

Monday 14 September 2020 13:47 CET | News

Emirates NBD, a Middle East-based financial services group, has successfully deployed a centralised international payments hub for multiple entities, running on TCS BaNCSTM for Payments.

TCS BaNCS solution is part of Tata Consultancy Services (TCS), a global IT services, consulting and business solutions organisation. Emirates NBD had selected TCS BaNCS for Payments as part of its vision to transform payments processing across all its entities covering six countries. The solution is now being used for international payments in Singapore, India, United Arab Emirates, and United Kingdom.

In India, the solution will also process domestic payments over RTGS and NEFT, while in UAE, at Emirates NBD and Emirates Islamic Bank, it will manage international payments as well as FTS for domestic clearing. The TCS BaNCS Enterprise Payments Hub centralises the bank’s payments processing infrastructure across countries.

It assists the bank to launch new services and payments products such as SWIFT for Corporates, and adopt upcoming market innovations in real-time clearing such as GCC-RTGS (KSA, UAE), IPI, and Egypt – RTGS, while also enabling GPII Certification for all its entities.

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Keywords: RTGS, NEFT, while in UAE, Emirates NBD, Emirates Islamic Bank, banking, payments , real time payments, TCS BaNCSTM
Categories: Banking & Fintech
Countries: Middle East
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Banking & Fintech

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