TCS BaNCS suite version 5 for Capital Markets and Payments unveiled at Annual Customer Forum
Product roadmap driven by deep customer involvement and input
SIBOS, Hong Kong, September 16, 2009: Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading global IT services and consulting firm, announced today that the newest version product suite for TCS BaNCS solutions for Corporate Actions, Market Infrastructure, Securities Processing, Securities Trading were unveiled at the Annual Customer forum on the sidelines of SIBOS, Hong Kong. TCS BaNCS for Payments also was launched on version 5 at this annual rendezvous with customers from around the world.
Explaining how the product roadmap and customer strategy are interconnected, N Ganapathy Subramaniam, President - TCS Financial Solutions said, "During our inaugural meeting we laid out the vision to our customers and solicited their wish list and pain points. A unique aspect of this product breakthrough is TCS BaNCS Service Integrator through which we can configure and leverage our component base. We are delighted that this new version of TCS BaNCS for Capital Markets and Payments are a direct result of our close relationships with customers and their candid feedback."
"We endeavor to build quantum improvements in each of our new versions", said R Vivekanand, Global Product Head - Market Infrastructure. "Functionality, Technology, and most importantly Market requirements are the parameters we have significantly addressed in this version. Ability to support multiple asset classes, multiple markets including high growth areas like Commodities and Currencies, and Improved cross border settlement are some of the areas that our clients will benefit from when this Product suite is deployed."
“Integrated payment processing, Enhanced usability and Wider choice of platforms for deployment and integration are the key benefits our customers will certainly harvest through version 5 of TCS BaNCS for Payments", said Nitin Sirohi, Global Product Head - Payments. "Our Payments solution is completely STP (Straight Through Processing) oriented to cut delays throughout the payment cycle.”
Salient Benefits of version 5 of TCS BaNCS Capital markets & Payments
- Improvement in customer service and customer experience
- Increased focus on tax reclaims life cycle and support for regulatory requirements
- Greater flexibility in managing through real-time anticipations & projections
- Significant leap in usability and operations monitoring capacity
- Enhanced ability for Banks to cross sell and onboard customers
- Heightened compliance and Optimization of transaction flow
- Reduced risk and cost of message transport
- Improved integration with third party products & industry messaging standards like SWIFT, ISO20022 , FIX etc..
About TCS BaNCS Capital Markets
The TCS BaNCS suite of solutions helps both buy-side and sell-side firms to implement robust, error-proof, STP-enabled and highly-scalable processes for Securities Trading, Trade Processing, Clearing and Settlement, Custody, Portfolio Accounting and Corporate Actions administration. TCS BαNCS solutions are based on modern technologies which integrate easily into existing infrastructures in a SOA framework, supporting Straight-Through-Processing (STP) initiatives and market connectivity standards. These solutions provide comprehensive functionality for the mid and back-office, with full integration to the front-office with direct market access.
About TCS BaNCS Payments
TCS BaNCS - Payments, a SWIFT-certified and award-winning STP-oriented solution, enables institutions to efficiently manage payments and cash management needs across multiple markets operating across time zones. With components for correspondent banking, wire transfers, ACH processing, standing order, direct debits, mandate management, checks electronic clearing and cash management, the payments solution from TCS BaNCS is a true multi-product, multi-entity offering that can help institutions realize a centralized payments hub that increases operational efficiency, enables STP and reduces maintenance costs
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 BαNCS. 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, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services 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 140,000 of the world's best trained IT consultants in 42 countries. The company generated consolidated revenues of US $6 billion for fiscal year ended 31 March 2009 and is listed on the National Stock Exchange and Bombay Stock Exchange in India.
TCS Financial Solutions Media Contacts
Phone: + 1732 331 3084
Phone: +61 (2) 9318 1088
Phone: +41 44 832 10 04
Phone: +91 22 6778 9077