TCS BaNCS wins Global Custodian award for Best Custody second time in a row
Mumbai, Nov 17, 2014: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, today announced that its flagship brand, TCS BaNCS for Securities Processing has won the prestigious Global Custodian award for Best Custody solution for the second consecutive year. Global Custodian had instituted these awards in 2013 to recognize the best solutions and professionals in the capital markets industry.
Commenting on the selection of TCS BaNCS for Best Custody Solution, N Ganapathy Subramaniam, President, TCS Financial Solutions said, "This is the third time that TCS BaNCS Securities Processing solution has won an award within a relatively short span of time, which is a reflection on the product's functionality and fit with the needs of Custodians in the marketplace. We thank our customers who are constantly encouraging us to expand our capability and footprint to address a wide variety of customer needs."
Janet Du Chenne, Executive Editor of Global Custodian, said, "TCS BaNCS for Securities Processing stood out with robust processing capability with the ease of real-time settlement. Further the product was distinguished with its integrated corporate actions and cash processing capability and ability to manage Risk and Compliance."
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 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 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 300,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 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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