Challenge
The custodian market continues its transformation spree that commenced over the last decade, with newer challenges becoming a necessary corollary. The foremost challenge, is the ability to offer a comprehensive range of custody services while maintaining a balance with technological trends.
There is a need for the adaptation to new technology and processes by re-engineering systems to accommodate transaction processing and hit higher levels of STP to increase operational efficiencies.
Solution
. The enhanced and futuristic functionalities enables you to scale significantly for multi-entity deployments and processing. The solution manages high volumes of local as well as cross-border trades apart from the increased diversity and complexity of financial instruments.
TCS BaNCS for Custody encompasses the following features:
- Multi-currency, multi-entity, multi-time zone, 24x7 processing capabilities
Rule-based engine
Pre-defined templates
Comprehensive portal
Automatic work item allocation to the users
Comprehensive automated end to end trade settlement processing
Trade affirmation and pre-matching services, while also supporting contractual as well as actual settlements
Well-knit connections with the markets, information providers, and street-side entities
Benefits
- Enhances Transaction Processing
- Facilitates smooth integration
- Ensures highly scalable processing infrastructure
- Enables customized reporting through business intelligence tool
- Ensures a high degree of reusability
- Ensures minimal manual intervention, thus mitigating the risk involved
- Global coverage and Reduced TCO
- Compliance to Global Standards
- Supports Local, Regional & Global Custody in the same application instance