TCS BaNCS Core Banking ranked No 1 Banking Solution of China in 2008 by Independent Research firm
No. 1 ranking for the third consecutive year
Mumbai, December 7, 2009: Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading global IT services and consulting firm, announced today that TCS BaNCS Core Banking has been ranked as the leading core banking solution in China based on its performance in the year 2008 by IDC, a leading provider of global IT research. This is the third year in a row that TCS has been ranked at the top of solutions providers for the financial services industry in China.
An IDC report, "China Banking Industry IT Solutions 2009-2013 Forecast and Analysis", July 2009, evaluated all China focused IT solution providers based on revenue and market share for 2008. IDC commented that TCS has maintained its momentum and the leading position due to engagements with Huaxia Bank and Bank of Hangzhou.
The report highlights TCS' robust portfolio of business solutions across a range of key segments. In addition to garnering the top slot Core Banking Solution and the second largest business solution provider position in China, TCS BaNCS has been recognized as the second largest Payment and Settlement solution provider, the third largest channel management solution provider as well as the fifth largest channel solutions provider in China.
"New customer wins on a periodic basis have been central to TCS' success as a Leader in this region" said Serena Shang, Senior Analyst, IDC China. TCS BaNCS' capability to scale and address a wide range of financial institutions coupled with their global track record is an attractive proposition. They can consolidate their initial learnings to make faster progress in perhaps one of the toughest markets in the world."
N.Ganapathy Subramaniam, President, TCS Financial Solutions said "Our promise of Experience Certainty to customers is a global commitment that addresses business problems, even in markets where language can be a significant barrier. Our momentum in China is a clear expression of our unflagging focus. We look forward to more clients leveraging our comprehensive portfolio of products and solutions."
Girija Pande, Executive Vice President and Head, TCS Asia Pacific, said "China, with its unique dynamics and size offers unparalleled opportunities as well as challenges. In addition to a compelling solution footprint, our track record of serving large global customers has enabled us to foray successfully. This ranking augurs well as we bring competitive advantage to our customers through smart use of technology."
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 customers. With a global customer base of more than 240 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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