Tuesday, September 27, 2022
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TCS Signs IT Contract of Five Years with Germany’s NORD/LB Bank

The NORD/LB, a leading commercial bank in Germany, has selected Tata Consultancy Services (TCS), as the bank’s strategic partner for the IT transformation, and the financial details of the deal had not been revealed.

The bank ‘NORD/LB’ has been embarked on a journey of transformation, which is going to be targeting a new business model by the year 2024, along with a more agile and learner operating model, and it has also partnered with the company ‘TCS’ in this journey, and as a part of this five-year partnership, the company ‘TCS’ is going to be working with the bank for the purpose of simplifying and transforming the application estate across the businesses and the financial markets, along with the retail banking and wholesale, through the automation and application consolidation.

Tobias Meiler, CIO of NORD/LB bank said, the bank has been transforming its business for the purpose of adapting to the latest trends and they have also decided it had been the time for them, to look at the next step of the transformation of the technology.

Tobias Meiler also said, after a serious process, they have selected TCS as their partner for this journey as the company has demonstrated deep financial and market domain expertise, along with a global delivery capability, which has been augmented with a strong customer focus, delivery, and string transformation capabilities of the bank on Germany.

TCS is going to help the bank for adopting new technologies for the purpose of automating the manual processes in the application management environment along with enhancing the operational resilience.