Genweb2 Signs Strategic Partnership with TCS

7 October 2012

Genweb2 today announced a strategic partnership agreement with Tata Consultancy Services (TCS), India’s largest IT services company.

Genweb2 will represent TCS’ BaNCS Core Banking Solution and Capital Markets Solution primarily in Bangladesh, as well as support clients in customizing and maintaining these products.

The partnership was announced by Genweb’s Chairman, Akther Ahmed, and TCS’ President of Financial Services, N Ganapathy Subramniam, at a joint press conference in Dhaka on 7 October 2012, which was attended by several prominent members of the Bangladeshi financial services industry, including Muhammad A (Rumee) Ali, Managing Director of BRAC Enterprises & Investments and Chairman of BRAC Bank. K Mahmood Sattar, Managing Director of The City Bank, moderated the panel discussion.

"Our commitment to provide local support will add significant value to customers, who are keen on having a support team that they can reach out to in-country,” Mr Ahmed stated. "We are delighted to have TCS as a partner who has a global footprint with strong track record of offering solution to the banking sector both in emerging markets and developed markets.”

Mr. Subramaniam said, “Genweb2's understanding of the local market will help us establish our presence and we are delighted to transfer knowledge to Genweb2's support team over time which should contribute to ongoing growth of Genweb2 and the IT sector of Bangladesh.”

The press conference was accompanied by a seminar and panel discussion, titled “Leveraging Technology in Emerging Markets Banking Sector”. The discussions circled around the financial services industry in Bangladesh and the need for partnerships between IT services firms and local banks in order to continue development of the industry.