TCS BaNCS Unveils Next-Generation Treasury Solution; HDFC Bank to harness integrated platform for greater efficiency
Mumbai, May 30, 2011: Tata Consultancy Services (TCS), (BSE: 523540, NSE: TCS), a leading IT services, consulting and business solutions organization, announced the launch of TCS BaNCS Treasury 5.0, an enriched version that is set to redefine the standards of transaction processing systems. HDFC Bank, the second-largest private sector bank in India, is one of the early adopters of TCS BaNCS Treasury 5.0. (HDFC Bank was judged “the strongest bank in Asia-Pacific” by The Asian Banker).
NG Subramaniam, President, TCS Financial Solutions, said, “Our relationship with HDFC Bank is a testimony of our commitment to our customers, where our solutions help them transform their businesses. TCS BaNCS Treasury enables banks like HDFC Bank to complement their treasury business with a functionally rich, robust and state-of-the-art technology platform for an agile financial supply chain. We take extreme pride in launching our next-generation treasury solution across the globe.”
Harish Shetty, Executive Vice President, IT, HDFC Bank, said, “As a technology-savvy bank, we constantly upgrade our systems and look for innovative solutions. Our long-standing association with TCS and TCS BaNCS Treasury assures us of TCS’ delivery capabilities, while the new version of the solution strengthens our vision of leveraging the latest technology to enhance our offering to our customers.”
TCS BaNCS Treasury 5.0 is an integrated, multi-entity, multi-currency treasury solution that supports front-, mid- and back-offices. It incorporates innovative functional enhancements across foreign exchanges, money markets, fixed income, equities and derivative asset classes. Its powerful and comprehensive functionality, with rich risk analytics, enables institutions to move from country- and asset-class-wise systems to a single platform aimed at proactively managing and monitoring organizational risk exposures.
As a comprehensive treasury solution, it enables Straight-Through-Processing (STP) and offers rich analytical functionality. It further helps organizations identify the source of risk through innovative desk-book folders and risk transfer mechanisms. Architected on a robust, state-of-the-art Java EE and SOA-enabled architecture, it facilitates rapid enterprise integration.
With this next-generation treasury solution, financial services institutions can transform, modernize and consolidate their treasury operations through a single installation. Pre- and post-deal analytics features provide the necessary decision-support making functionality while extensive market curve sourcing, the generation and creation of synthetics, multiple fitment routines and the rules-driven mark-to-market engines enable proactive risk management. With path-breaking “personalized single workspace”, “quick deal” and “smart query” features, the user experience is elevated to the next level, making it truly next generation.
TCS BaNCS Treasury 5.0 is platform-independent and has the facility to house multiple treasury units under one installation. Its quicker go-to-market capabilities, using standardized implementation methodology, ensure significant benefits to total cost of ownership.
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 will drive growth, reduce costs, mitigate risk and offer a faster speed-to-market for our clients. With a global customer base of more than 240 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 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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