TCS bags 10-year deal from Deutsche Bank

15 Dec 2010

Tata Consultancy Services has won a 10-year contract from Deutsche Bank to deploy its core banking suite (a platform, which among other things, provides for branchless banking) in over 30 countries. Deutsche Bank would implement TCS BaNC as its new platform for global transaction banking or GTB. The deal is worth $50 million or more of revenue opportunity for TCS.

The pricing mechanism in a software product deal revolves around the license fee (along with the initiation fee) and is followed by an annual maintenance fee for the duration of installation which is 15-25 per cent of the contract size which ensures IT companies an assured revenue stream. The revenues from the Deutsche deal will begin reflecting in TCS' financials for the current quarter ending December 31.crackcrack

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