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Helping financial services organisations stay ahead in a challenging landscape

by internationalbanker

Peter Fawcett Photo (3)By Peter Fawcett, Consulting Practice Leader – Banking & Financial Services, UK & Europe

 

TCS understands that these are tough times for financial organisations. Public trust remains low following a raft of high profile crises, and banks are burdened with increasingly complex and expensive compliance regulations. Alongside these challenges, technology and digital adoption continues to develop at a rapid pace, driven by consumer demands for more innovative and user friendly digital solutions.

As a consequence, the landscape itself is rapidly changing with non-traditional, digitally native companies increasingly entering the banking market. TCS is helping banks to embrace this age of digitisation and overcome the transformational challenges required to produce better customer solutions, integrated seamlessly across all channels.

TCS has had over four decades of experience helping organisations navigate these complex challenges, with over 250 active clients including 12 of the top 20 global banks. With its broad domain experience and in depth technical expertise, TCS works on transformational engagements with banks across the globe, helping to simplifying their IT systems, improve cost-to-income ratios, deliver real-time application processing and help bring new products to market faster.

TCS BαNCS

TCS’ flag ship solution TCS BαNCS addresses the entire range of financial services solutions. TCS BαNCS is separated into 11 sub products to cover the full range of banking and financial service’s needs, including; securities trading, securities processing, wealth management, private banking, compliance, treasury and payments.

A market-ready universal financial platform, each solution in the suite runs as a scalable, robust component, fully integrated with existing business models, enterprise and technology infrastructures. Wholly owned, managed and grown by the TCS Financial Solutions (TCS FS) strategic business unit, TCS BαNCS has recently earned the accolade of leader in the Forrester Wave Global Banking Platforms Q4, 2012.

Capital Markets

TCS’ Capital Markets solutions supports over 50 markets across the globe, covering the complete life cycle of securities processing with broad coverage of asset classes. TCS serves eight of the top 10 investment banks and two of the top three global custodians. The Capital Market practice supports multiple centres of Excellence, cutting across domain, technology and products to help track industry trends develop competencies and solution frameworks. Centres of Excellence include Wealth Management, Asset Management, Investment Banking, Custodian, Market Infrastructure, Technology and 3rd Party Products. As well as these centres of Excellence, TCS has a well-established domain training academy to build competencies across Capital Markets. It also supports a Capital Market focused innovation lab focused on applying emerging technology solutions such as mobility, big data, social media and fraud surveillance within the capital markets.

Retail Banking

TCS provides a wide range of retail banking services to some of the world’s largest banks, including account maintenance, funds transfer, time deposits, fraud management and investments/brokerage. TCS also offers account fulfilment embossing, card dispatch, ATM reconnaissance, collections, overdraft and advance management, helpdesk services and service management.

As a market leader in managed services application outsourcing for legacy DDA (Demand Deposit Accounts), account opening and customer information platforms, TCS has extensive experience of working in mission-critical production support, application development and systems integration. The TCS retail banking practice leadership and SME teams are aligned around specific areas – such as mortgages, payments, core processing, cards, and risk management – and focus on developing TCS assets and competencies in these domains, ensuring a high level of industry and technical expertise.

TCS was named a Leader in Gartner’s 2012 Magic Quadrant for International Retail Core Banking.

Corporate Banking

With banks under growing pressure to deliver increasingly sophisticated services to meet corporate client expectations, there is a high demand for comprehensive corporate product and account management. TCS provides comprehensive strategies and solutions that provide banks with a unified multi-channel view of their corporate customers alongside efficient, intelligent automation of processes to increase profitability and improve customer satisfaction.

Recent Company and or product developments

Zions Bancorporation Selects TCS BaNCS for Core Banking Transformation

Zions Bancorporation, one of America’s premier financial services companies, has chosen TCS BaNCS for its core banking transformation program to achieve standardisation, centralisation and straight through processing across the enterprise. In addition to the cost saving benefits, the ability to have a single, 360 degree view of its end-user customers is a key focus of the core replacement program. 

Everest Group PEAK Matrix Ranks TCS as a Leader and Star Performer in Banking BPS

Everest Group recently released its report titled ‘Banking BPS Provider landscape with PEAK Matrix™ Assessment 2013. This report analyses the changing dynamics of the banking BPS landscape and assesses service providers across several dimensions. Among the attributes that earned TCS the prominent position are its strong growth, good coverage across lines of business, high technology capability, and success across regions. TCS is one of the few players with strong capability in commercial banking with close to half the market share in this segment.

Independent Research Firm names TCS as a Leader in Global Banking Platforms report

Forrester Research Inc has named its flagship brand TCS BaNCS as a leader among a select group of global core banking software platforms. In its 62-criteria evaluation of global banking platform vendors, the research firm identified the eight most significant software providers.

About TCS

Tata Consultancy Services is an IT services, consulting and business solutions organisation that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognised as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 285,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. 

About  Natarajan Chandrasekaran, CEO, TCS

Natarajan Chandrasekaran (“Chandra”) has been Chief Executive Officer of TCS since 2009. Chandra has been at the helm of several key strategic transitions at TCS since 2002 when he took over the role as head of global sales. Under his leadership, TCS has pioneered the creation of its unique Global Network Delivery Model (GNDM™) across five continents and ventured into new markets including Continental Europe, China and Latin America. It added new business lines like Global Consulting BPO, Infrastructure Management and Assurance services.  Chandra has also driven the domain diversification drive which has seen the company enter new verticals like Media and Information Services as well as the Hi-tech industry. All of these have matured into sizeable businesses under his mentorship and guidance.

 

 

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