TCS BaNCS wins best custody solution at the 2013 Global Custodian Awards for Excellence
New York | Mumbai, December 5, 2013: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, today, announced that TCS BaNCS for securities processing was named winner in the Custody Category at the First Annual Global Custodian Technology, Consultancy and Law Awards for Excellence that were held at the Harvard club in New York City. These awards celebrate the firms that were recognized in client perception surveys conducted by Global Custodian. TCS BaNCS for corporate actions was also a finalist in the Corporate Actions category.
On the awards program and selection criteria, Alexandra DeLuca, Global Custodian’s Editor, said, "These awards aim to recognize and celebrate the solutions that are transforming the capital markets industry. As today’s custody world becomes increasingly complex, in part thanks to an ever-evolving regulatory landscape, we found that TCS BaNCS was providing a robust trade processing platform with readily integrated corporate actions and cash processing capabilities in real-time settlement."
Commenting on the award, Arun Arunachalam, said, “TCS BaNCS ensures a highly scalable processing infrastructure while managing high volumes of local as well as cross-border trades apart from the increased diversity and complexity of financial instruments. Central to our strategy is a highly collaborative approach of multiple stakeholders, such as customers, prospects, analysts and other industry players who participate to create a product roadmap. As a result, TCS BaNCS delivers enriched connectivity to new markets, market specific functionality and compliance to country-wise regulatory and tax reporting requirements."
TCS BaNCS for securities processing/custody is positioned for custodians, banks and financial institutions. Its real-time, multi-entity, multi-currency, multi-asset, multi-market, multi-lingual application enables end-to-end trade-to-settlement processing to address the business needs of custodians (Global, Regional and Sub-custodians). The scalability of the TCS BaNCS solution is a significant differentiator and its reporting and compliance capability is of the highest order, considering that the regulatory landscape is constantly evolving.
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of TCS. 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 deliver 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 290,000 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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