In an effort to enhance customer service and modernize the lender's digital system, Tata Consultancy Services (TCS) and the Bank of Bhutan launched a strategic alliance.

To optimize the bank's operations and interact with other public services inside Bhutan's digital ecosystem, the Indian IT giant will deploy its TCS BaNCS Global Banking Platform.

The largest commercial bank in the nation, Bank of Bhutan, offers a variety of financial products and services to over 400,000 clients through 45 offices. Since 2016, TCS has been the bank's IT partner.

Dorji Kadin, chief executive officer of Bank of Bhutan, said: “We remain committed to continuously innovating and enhancing customer experience. This (partnership with TCS) translates into offering personalized, comprehensive, high-performing financial products and services, including the capabilities required to support the countrywide digitisation and digital currency initiatives by the Kingdom of Bhutan.”

According to TCS, its solution will enable the bank to provide "seamless customer experience" and swiftly introduce new, creative products to the market.

By connecting to third-party apps inside the financial services ecosystem, TCS BaNCS' APIs will enable the bank to build a platform that can accommodate future business needs. (The methods that allow two software components to communicate with one another are known as application programming interfaces, or APIs.)

“TCS BaNCS will help the Bank enhance operational efficiencies, automate processes across retail and corporate banking, making frictionless customer experiences a reality,” said Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS.

Over 30 percent of the world's population has their financial transactions handled by TCS BaNCS, according to the business.

TCS BaNCS powers two of the biggest core banking systems in the world, managing one billion accounts. Financial institutions can use new ecosystems, manage risks, and generate substantial value with the assistance of TCS BaNCS. Globally, banks, cooperatives, and other financial institutions use it.

The platform helps traditional organizations move away from legacy technology and connect with APIs by offering a large number of cloud-based components and apps.