Tata Consultancy Services' Domain Expertise, Strong Portfolio of Propriety Solutions and Platforms, and Large Workforce Certified in Key Technologies, Cited as Key Strengths
LONDON | MUMBAI, November 8, 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 vendor evaluation for Wealth and Asset Management Services.
According to the report, TCS has a set of wealth and asset management services focused on transformation, integration, and implementation. TCS’ strong portfolio of proprietary solutions and platforms, including TCS BaNCS™, and fintech partnerships were cited as key strengths.
The report goes on to say that TCS’ domain expertise is drawn from its long-term experience with financial institutions. TCS’ large workforce certified in key technologies and frameworks to support consistent delivery were also highlighted as strengths. It also estimated TCS’ wealth and asset business to grow considerably over the next three years.
“Progressive wealth and asset management firms are leveraging next-gen technologies to expand their portfolios with newer asset classes, experiment with new, innovative business models, and enhance customer experience,” said K Krithivasan, Business Group Head, Banking, Financial Services, and Insurance, TCS. “Our leadership position in this assessment is a recognition of our vision, strategy and capabilities to provide differentiated advantage to financial institutions, while creating exponential value for their end customers.”
TCS has more than four decades of experience in the asset and wealth management industry. Its experience and expertise in transforming leading asset and wealth management firms globally helps bring in a differentiated value proposition to its clients.
TCS offers a comprehensive portfolio of services catering to all stakeholders in the enterprise across business, operations, and IT. Through its Industry and Technology Advisory Group focused on wealth and asset management, TCS delivers industry-leading solutions and advisory and consulting services on a wide variety of industry issues. TCS has made significant investments in design studios and innovation through TCS Pace Port™ to help wealth and asset managers discover and deploy customer-centric designs that are enabling firms to pursue profitable and purpose-driven client asset growth.
TCS’ IT services span application and digital services, infrastructure services, cognitive business operations, product implementation, platform solutions and Business Process as a Service (BPaaS). TCS’ in-depth domain solutions cover all functions and covering front-, middle- and back-office processes.
Key business transformation themes driven by TCS include:
- Providing frictionless, contactless client experiences: TCS helps wealth management firms empower advisors with key business capabilities like video conferencing, co-browsing, online meeting scheduling, digital vault, etc. thereby enriching customer experience and advisor effectiveness.
- Launching new products: TCS helps clients launch new products and technology-led engagement models to create cross-selling, up-selling opportunities or address new customer segments altogether.
- Building more responsive, resilient operations: Leveraging its Machine First™ approach, TCS helps customers embed machine vision, machine learning, AI, and conversational systems into their operations, helping reduce turnaround times, while enhancing customer experience and operational resilience.
- Hyper personalizing experiences and product designs: Leveraging AI/ML technologies, TCS helps design hyper-personalized client experiences as well as unique investment products.
Providing sustainable returns: TCS with its investments in data offerings is helping clients adhere to their sustainability and climate risk strategies. Other emerging themes include developing digital solutions such as remote online notary and eAuthorizations, digital asset custody, hybrid platforms, next-gen estate planning, climate change, regulations like SEC derivatives framework, cloud adoption.
Andy Efstathiou, Director, Banking Operations & Transformation practice, NelsonHall, said, “TCS was identified as a Leader in wealth and asset management services based on its strengths in delivering contactless customer experience and reduced time to launch new financial products. In addition, TCS has strong IT services capabilities for building agile, resilient operations, using its Machine First approach to transforming financial operations.”
To view the full TCS profile in Wealth and Asset Management Services, click here.
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 528,000 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
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.
 Wealth & Asset Management Services NEAT, Andy Efstathiou, NelsonHall, September 14, 2021
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