Investec India goes live on TCS BaNCS
High speed implementation to power front and back office brokerage operations
MUMBAI, February 3, 2016: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that Investec India, part of the global wealth management giant Investec, has gone live on TCS BaNCS to power its front and back office operations in India. The high speed implementation was completed in a record span of 9 weeks enabling Investec India to setup a green field institutional broking operations in India.
Investec India had planned to expand its securities business in India and setup a full-fledged broking and sales trading activity. To achieve this, they needed a technology partner that not only had a well-established solution that covers all aspects of institutional brokering in India but also delivers in quick time and at a low cost of ownership. Investec was looking for a vendor who acts as a partner rather than a pure product supplier and a platform that could support its future functional and technical requirements.
Over and above the benefit of a fast time to market, Investec now has in place, a comprehensive integrated front to back office institutional broking solution. The solution is providing a low latency, high execution capability at a low operational cost and is also ready for algorithmic trading. The implementation of TCS BaNCS also demonstrates the solution's readiness and configurability required for a dynamic market.
Robin Browning, COO, Investec UK, said, "TCS’ ability to deploy such an advanced brokerage solution in quick time is largely due to TCS’ long experience in delivering such solutions for the Indian brokerage industry. TCS’ understanding of the Indian securities brokerage industry has enabled us to get off the starting blocks fast; we went live in ¾ of the time normally required for a complex front and back office technology implementation".
Commenting on the deployment of TCS BaNCS, Bharat Shah, Principal Consultant, TCS, said, "We are pleased to partner with Investec. TCS BaNCS latest technology will greatly benefit Investec’s current and long term needs by providing an integrated front to back office solution. Having deployed the best brokerage solution we are confident that Investec business will set new standards in the Indian Capital markets."
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best–of-breed solutions that drive growth, reduce costs, mitigate risk and offer a faster speed-to-market for our clients. With a global customer base of more than 280 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™ , recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 285,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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