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ABN AMRO Strengthens Strategic Partnership with TCS to Future-Proof its Business

Posted On: 2020-01-29 21:53:19

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that it has strengthened and expanded its strategic partnership with ABN AMRO, one of the largest banks in the Netherlands, to help the latter build a new, scalable technology core that will increase its innovation velocity and support its digital ambitions.

TCS has been a trusted partner for ABN AMRO for the last 15 years and has worked closely with the Bank to drive its growth and transformation agenda across various lines of business, leveraging its full stakeholder portfolio of business and technology services, solutions and intellectual property.

The newly expanded partnership will further accelerate ABN AMRO's digital transformation journey by embracing DevOps to improve the bank's speed to market for its innovative new offerings and continuing to leverage TCS' Location Independent Agile model that enhances collaboration between business and IT, reduces risks and helps deliver superior customer experiences. Additionally, TCS will help the bank reduce its technology debt and build a scalable, future-proof IT core by rationalizing the technology stack, rearchitecting critical systems using microservices and APIs, adopting cloud-native architectures as the default for new system development and migrating workloads to a public cloud.

"Our aspiration is to build a future-proof bank powered by our people and partner ecosystem to create a long-term value for our customers. TCS as our growth and transformation partner is working closely with the bank in rejuvenating our IT landscape leveraging the synergy between IT business and operations. Our accelerated investment in workforce and innovation will help us achieve our ambition of being at the forefront of digitalization and technological developments so that we can deliver innovative products and solutions, enhance the customer experience and provide relevant and personal expertise," said Christian Bornfeld , Chief Innovation & Technology Officer (Group COO) and Executive Board Member, ABN AMRO.

"We look forward to strengthening our long-standing strategic partnership with ABN AMRO in their digital transformation journey. We will leverage our deep contextual knowledge of their business, large portfolio of intellectual property and digital expertise to transform their IT landscape and operations. The new future-proof digital core will enhance their agility and speed to market, and enable superior customer experiences," said Hemakiran Gupta, Business Unit Head, BFSI - Mainland Europe, TCS.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2152.7 as compared to the previous close of Rs. 2184.05. The total number of shares traded during the day was 179971 in over 6509 trades.

The stock hit an intraday high of Rs. 2187.6 and intraday low of 2148.65. The net turnover during the day was Rs. 389344261.

Source: Equity Bulls

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