TCS announced that Saudi Real Estate Refinance Company (SRC) has implemented a single, integrated technology platform for its core operations to refinance real estate, a first of its nature deployment in the Middle East region. TCS BaNCS will now service the complete mortgage refinancing lifecycle including the Treasury function as well as finance, human resources and payroll administration through its partner network.
The choice of TCS BaNCS as its preferred technology platform was determined by its comprehensive functional capability, and the firm’s execution rigor and domain expertise demonstrated globally. Mr.Fabrice Susini, CEO, Saudi Real Estate Refinance Company, said, “Our vision directly tracks the Saudi Kingdom’s 2020 National Transformation Program which calls for a 100% increase in real estate’s GDP contribution from 5% to 10% by 2020. To reach this ambitious goal, we needed a flexible and agile platform like TCS BaNCS. The solution’s modern functionality and architecture; the excellent fit with our technology and organizational needs; and the deep commitment and support demonstrated by the TCS team are significant aspects of this partnership.”