Challenge
CFS sought to overhaul its legacy IT landscape to modernize corporate actions processing
Colonial First State’s (CFS) position as a leading wealth management group in Australia was being tested as its corporate actions was supported by disjointed legacy systems. Since data management processes were misaligned, the fund management major lacked a single source of truth for corporate actions data that could provide end-to-end visibility into operations. Banking on the decade-long partnership between the Commonwealth Bank of Australia (CBA) and TCS, CFS chose TCS BaNCS for Corporate Actions to implement a scalable, open architecture solution to transform the whole corporate actions value chain.