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Success Story

Standard Chartered Improves Market Access to its investors

TCS BaNCS implements ‘single-touch’ custody model for ensuring consistent user experiences 

 
Client
Standard Chartered Bank
Industries
Capital Markets
Service
Custody

Challenge

Standard Chartered needed an integrated platform to manage global custody flows

Standard Chartered wanted to replace its technology infrastructure in order to provide its customers real-time visibility into their holdings, capitalize on investment opportunities in emerging markets, streamline cash management, and reduce risks. The banking major decided to partner with TCS BaNCS to implement a single touch custody model to directly connect investors with local custodians under its Strategic Target Operating Model (STORM) securities services transformation program.

Solution

Standard Chartered implements TCS BaNCS’ custody solution, improves transaction processing

 The transition was carried out in two stages: TCS BaNCS initially implemented the custody solution for extending asset servicing capabilities such as corporate actions. In the second stage, the solution covered core settlement capabilities such as trade capture, settlement, and safekeeping for the 24 countries that the bank operated in.

As part of the deployment process for the single-touch custody model, TCS BaNCS designed and implemented an account operator framework, which would help the bank gain a leading edge. The process increased straight-through processing (STP) rates while the bank was able to access real-time updates on operations. 

TCS BaNCS’ solution also offered:

  • Rule-based processing capabilities
  • Position keeping updates
  • Reference data management
  • Effective foreign exchange handling

“TCS BaNCS has placed us at the leading edge.” - George Nast, Managing Director, Global Head of Product Management, Transaction Banking, Standard Chartered Bank

Benefits

Standard Chartered provides global market access to investors

Standard Chartered has been able to automate custody operations, simplify its broker business structure, and standardize processes to ensure consistent customer experiences across markets. With the standard data migration suite in place, it can now ensure repeatable country rollouts. Standard Chartered and TCS BaNCS won The Asian Banker’s prestigious Best Trading Back Office Project Award for 2011.With TCS BaNCS for Custody, Standard Chartered has been able to 

  • Address global and local requirement - 33 out of 40 markets integrated within three years’ time
  • Automate 90% of corporate actions
  • Get unrestricted access to markets, with flexible reporting mechanisms and reusable business processes

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