KCC wanted to minimize IT maintenance cost by replacing in-house legacy applications
At Kuwait Clearing Company (KCC), key business operation subsystems for registrar services, liquidity management, and mutual fund services were controlled by a series of siloed, in-house applications. Apart from being difficult and expensive to maintain, these applications did not have a direct interface with the core depository platform. This not only hindered the company’s ability to make REMAT and DEMAT transactions in real time, but also impacted operational efficiency and performance. The financial major decided to partner with TCS BaNCS to transform its fragmented application landscape into a single integrated system.