press release

 

Deutsche Bank Spain Wins Celent Model Wealth Manager 2019 Award for Client Experience with TCS

Bank was Recognized in the Client Experience Category for the New Investment Reporting Experience Implemented Along with Tata Consultancy Services

NEW YORK | MUMBAI, July 26, 2019: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, announced that its customer Deutsche Bank Spain has won Celent’s 2019 Model Wealth Manager Award for Client Experience for the new investment reporting experience designed and implemented by TCS.

Deutsche Bank Spain partnered with TCS to reimagine the periodic investment reports to help customers understand their investment portfolio better. TCS worked collaboratively with the bank to come up with new designs that would enable easier and more intuitive understanding of the portfolio performance. The new reports have resulted in approximately 20 percent increase in advisor satisfaction rating across private banking.

Stefan Peschke, Head, PCB International IT and Operations, Deutsche Bank, said, “This award recognizes our progress towards meeting our customers’ needs for clear, tailor-made reports that enable them to better understand their investment portfolios. We wanted to swiftly build a high-quality tool for our customers and advisors. We worked hand-in-hand with our strategic partner TCS to bring agility, creativity and design thinking methods to deliver that ambitious vision.”

Leading financial institutions are reimagining the user experience by adopting design thinking and agile methodologies to meet their customer’s rising expectations and differentiate themselves in the market,” said Uma Rijhwani, Business Unit Head – Europe Central, BFSI, TCS. “Deutsche Bank’s initiative to build an insightful, intuitive and personalized solution on investment reporting for their customers, corroborates their sharpened focus on sustainability, design and efficiency. We congratulate Deutsche Bank on this recognition from Celent and are proud to be the Strategic Partner in its ambitious journey,”

The selection process for the Model Wealth Manager Awards involved a rigorous evaluation by Celent’s Banking analyst team of the nominations submitted by financial institutions. Submissions are judged on three primary criteria: demonstrable business benefits of implemented initiatives; the degree of innovation relative to the industry’s standards; and the technology or implementation excellence.

Every customer seeks high-quality, insightful and easy to understand data about their financial portfolio. Deutsche Bank dismantled years of traditional investment reporting with their smart new customer-friendly reports,” said Ashley Longabaugh, Wealth Management Analyst, Celent. “The new reports, implemented by TCS, have helped Deutsche Bank deliver superior user experience, and differentiated value to customers with greater transparency in the portfolio performance.”

About Deutsche Bank

Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. https://www.db.com/

About Tata Consultancy Services Ltd. (TCS)                                                             

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 436,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

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