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Case Study

Colonial First State enhances and de-risks its corporate actions value chain through TCS BaNCS

 

 

TCS BaNCS for Corporate Actions enabled Colonial First State (CFS) to automate corporate actions processing, leading to improved productivity and reduced risks.

The Customer

Colonial First State (CFS) is the fund management arm of the Commonwealth Bank of Australia (CBA). As one of Australia's leading wealth management groups, CFS provides investment, superannuation, and retirement products to individuals, and corporate superannuation to employers.

Business Scenario

CFS’ corporate actions processes were supported by disparate legacy systems. The company was looking for a
solution that would support the end-to-end corporate actions value chain, especially around process management, record keeping, downstream processing, and integration with external parties such as custodians and fund managers.

TCS' Solution

TCS BaNCS for Corporate Actions was chosen due to its high flexibility, open architecture, and modern design.

Benefits

TCS BaNCS helped CFS achieve its business objectives of high STP rates, automation of corporate actions processes, and scalability. CFS has also achieved the following business outcomes:

  • Improved operational efficiency and productivity
  • Reduced IT complexity and risks
  • Enhanced agility

Read the case study.