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Ahli Bank QSC selects TCS BaNCS to extend its brokerage footprint in the Middle East

31 May 2011 Evaluate

Ahli Bank QSC (Qatar) has selected Tata Consultancy Services’ (TCS) BaNCS Universal Banking for its brokerage operations in Qatar. Ahli Bank is part of the Ahli United Bank group headquartered in Bahrain, and present in seven countries - Bahrain, Qatar, Kuwait, Egypt, Oman, Iraq and the United Kingdom (UK). This follows the recent announcement from Qatar Exchange allowing Qatari Banks to make inroads into brokerage operations by establishing their own subsidiaries.

TCS BaNCS Universal Banking, at Ahli Brokerage, is a robust, unified platform that will support trading on the Qatar Exchange across multiple channels, asset classes and currencies. Enriched with algorithmic trading and institutional workflows, the solution will serve institutional customers more efficiently.

Integrated with the core banking system existing in the bank, the solution will also enable Straight-Through-Processing (STP) and risk management, thereby enabling a rich customer experience. Its end-to-end capabilities will facilitate trading on GCC and international markets in addition to the local markets. Built on an open architecture, this component-based solution leverages a service-oriented and event-driven architecture, providing the bank with the much-desired agility, cost efficiencies and competitive advantage.

Tata Consultancy Services posted a growth of 34.73% in its net profit after taxes of Rs 7569.99 crore for the year ended March 31, 2011 as compared to Rs 5618.51 crore for the year ended March 31, 2010. Total income increased by 28.20% to Rs 29770.14 crore for the quarter under review from Rs 23222.05 crore for the year ended March 31, 2010.

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