Tata Consultancy Services’ Breadth and Depth of BFSI Sector Offerings, Strong Practice in CX Transformation, Proprietary Frameworks and Platforms, and Innovation Partnerships Cited as Key Strengths
LONDON | MUMBAI, August 12, 2021: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been positioned as a Leader in the NelsonHall NEAT for CX Services in Banking, Financial Services and Insurance (BFSI)1.
According to the report, TCS has a strong practice in CX transformation with a proprietary framework for customer journey diagnostics, technology partnership for journey orchestration, and pre-built assets by vertical with sector implementations. TCS’ suite of proprietary BFSI automation, analytics, and process optimization platforms with subprocess use cases with a dedicated store, were highlighted as key strengths. Other strengths included its breadth and depth of BFSI sector offerings across BPS, and an ecosystem of technology and innovation partnerships, alliances, accelerators, and marketplace.
The report goes on to say that the company’s continuous investments in agent augmentation, omnichannel, and contact center operational optimization such as QA automation have helped TCS address the developing market demand for a unified CX strategy.
“In response to customer expectations of personalized and immersive experiences, forward-thinking BFSI enterprises are leveraging next-gen technologies such as AI and ML, as part of their multi-horizon transformation journeys,” said K Krithivasan, Group Head, Banking, Financial Services, and Insurance, TCS. “This recognition from an independent, third-party research firm reflects our innovation-led approach, customer-centricity, extensive investments in digital technologies and the resultant market impact.”
TCS has been successfully partnering with leading BFSI companies in large and complex business transformation programs and creating immense value. TCS’ CX services in BFSI span customer care, technical support, billing, payment processing, complaints management, sales, cross-sell and upsell, outbound campaigns, loyalty management, credit management, early- and late-stage collections, order processing, claims administration, underwriting support, KYC, fraud protection, and QA. It also offers workforce management, operational optimization, CX consulting, digital channel enablement, analytics, reporting and BI, RPA/ RDA, and AI/ ML development and implementation.
Backed by its Business 4.0™ framework, TCS’ CX services leverage digital assets and cognitive tools such as Customer Interaction Manager, Disambiguation Engine, Dispute 360, TCS Financial Closing Monitor, and patented frameworks such as Tran$form. TCS also offers Customer Journey as-a-Service (CJaaS), an asset-led consulting framework and the company’s digital BFSI stack for digital transformation, which uses RPA, AI, data and analytics, mobility, social media, blockchain, and edge computing.
TCS offers CX services to over 200 BFSI customers, including retail and commercial banks, digital banks, card companies, mortgage and lender brokers, credit unions, investment and wealth management funds, life and P&C insurers, pension funds, insurance, and reinsurance brokers.
“BFSI brands increasingly look for unified technology and operational solutions to reach next-level customer experience. TCS is well-positioned to respond with a combination of domain-specific platforms addressing subprocess challenges, consulting frameworks to re-design the customer journeys, and Pace Ports network for co-creation and testing of technology,” said Ivan Kotzev, Lead CX Analyst, NelsonHall.
“With our contextual knowledge, digital capabilities and customer-centric offerings, we enable our customers to jumpstart and accelerate their customer experience transformation journeys and deepen engagement at every step,” added K Krithivasan.
NelsonHall is the leading global analyst firm dedicated to helping organizations understand the ‘art of the possible’ in digital operations transformation. With analysts in the U.S., U.K., and Continental Europe, NelsonHall provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. And for vendors, NelsonHall provides deep knowledge of market dynamics and user requirements to help them hone their go-to-market strategies. NelsonHall’s research is based on rigorous, primary research, and is widely respected for the quality, depth and insight of its analysis.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 500,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com and follow TCS news at @TCS_News.
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1 NEAT CX Services in BFSI, Ivan Kotzev, NelsonHall, June 3, 2021
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