Industry
Banking
Banking Services Transformation: Unlocking Exponential Value
Capital Markets
Unlocking Exponential Future Growth in Capital Market Firms
Solution
TCS BaNCS™
TCS BaNCS™: Enabling Transformation in Banks and Financial Institutions
TCS BaNCS Positioned as a “Leader” by Omdia for Payment Hubs
TCS BaNCS’s strong business capabilities, multi-country deployments and partner ecosystem integration cited as a critical factor that contributed to successful payment transformation initiatives which is testament to our capabilities built on cloud-native, microservices based (2024-25)
“Leader” in Everest’s Wealth Management PEAK Matrix® 2024
TCS BaNCS received the highest scores in technology capability, flexibility and ease of deployment, value delivered, vision and strategy, and support. TCS BaNCS Marketplace integrates with FinTechs to enhance its WM capabilities to create a comprehensive digital experience
Top 10 Core Banking Technology Providers in 2024, Globally
TCS BaNCS recognized amongst “Top 10” globally in Everest Group's Leading 50TM Core Banking Technology Providers 2024. TCS BaNCS has also been recognized amongst “Regional Leaders” in core banking technology across NA, APAC, EMEA, and UK&I and amongst those serving credit unions.
“Technology Standout” by Celent for Reconciliation, 2024
TCS BaNCS positioned as a "Technology Standout" in Celent's Reconciliation Systems: Solution for Capital Markets Firms report, 2024. TCS BaNCS for Reconciliations is designed to be business agnostic and can be used to reconcile transactions and accountings from any line of business and asset classes
“Luminary” in Core Banking - Global & NA edition, 2023
TCS BaNCS won an XCelent Award for "Breadth of Functionality" and positioned as a "Luminary" in Celent report for Retail Banking Core Banking Systems Internation Edition as well as North American Mid-Large Banks Edition
Celent Model Bank Award for Great Southern Bank, 2023
TCS designed, built, and tested a new Open Banking platform. The new platform leverages TCS BaNCS’ open banking APIs specifically developed for the Australian market and its knowledge and experience building similar banking and customer APIs for global clients
“Luminary” in Celent’s SMB Digital Banking Platforms, 2023
TCS BaNCS positioned as a "Luminary" and won an XCelent award for “Advanced Technology” in Celent’s “Small Business Banking Platforms North America - Solutions For Community Financial Institutions”
XCelent Technology Award in Retail Digital Banking, 2023
TCS BaNCS positioned as a "Technology Standout" and won an “XCelent Technology” award in Celent’s “Retail Digital Banking platforms: North American Edition – Solutions for Community Financial Institution”. Customers rated high across, implementation, support, upgrades, technology, & integration
“Leader” in the Open Banking report by Everest Group, 2024
TCS named as a Leader in the Open Banking IT Services PEAK Matrix® by Everest Group. TCS BaNCS Marketplace, partnerships with cloud service providers, and extensive subject matter expertise are cited as key strengths
“Leader” in Omdia Universe: Cloud-based Core Banking
Omdia quotes “TCS BaNCS is a very strong core banking product that has a broad and rich set of functionalities to meet the needs of a diverse range of banks, particularly a universal bank that has to manage multiple lines of business” (2023)
Banking and Capital Markets
- TCS BaNCS positioned as a "Leader" in Omdia Universe: Payment Hubs, 2024–25 (Source: Omdia, Omdia Universe: Payments Hubs, 2024-25, Ouliana Smith, Oct 2024)
- TCS BaNCS recognized as a “Leader” in Everest Group’s Wealth Management Products PEAK Matrix® Assessment 2024 (Source: Wealth Management Products PEAK Matrix® Assessment 2024, Ronak Doshi, Pranati Dave, Kriti Gupta, Kriti Seth, Pooja Mantri, Oct 2024)
- TCS BaNCS positioned as "Technology Standout" in Celent's Reconciliation Systems: Solution for Capital Markets Firms. (Source: Celent, Reconciliation Systems: Solutions for Capital Markets Firms, Dayle Scher, Speed Janey, April 2024)
- TCS BaNCS recognized among “Large Vendors” in Forrester’s Digital Banking Processing Platforms (DBPP) Landscape, Q3 2024 (Source: Forrester, Digital Banking Processing Platforms Landscape, Q3 2024, Huard Smith, Jul 2024)
- TCS BaNCS recognized amongst the “Top 10”, globally, and as “Regional Leaders” across geographies in Everest Group's Leading 50 Core Banking Technology Providers 2024 (Source: Everest Group, Leading 50 Core Banking Technology Providers 2024, Team Everest, Nov 2024)
- TCS BaNCS positioned as a “Strong Performer” in Forrester WaveTM: Digital Wealth Management Platforms (Source: Forrester, The Forrester Wave™: Digital Wealth Management Platforms, Q1 2024, Vijay Raghavan, Feb 2024)
- TCS positioned as a “Major Player” in IDC MarketScape: Europe, Middle East, and Africa Digital Core Banking Platforms 2024 Vendor Assessment for its TCS BaNCS product (Source: IDC MarketScape: Europe, Middle East, and Africa Digital Core Banking Platforms 2024 Vendor Assessment, doc # EUR150463623, Sept 2024)
- TCS positioned as a “Major Player” in IDC MarketScape: Worldwide Integrated Bank Payment Systems 2024 Vendor Assessment for its TCS BaNCS product (Source: IDC MarketScape: Worldwide Integrated Bank Payment Systems 2024 Vendor Assessment, doc # US50426423 , Sept 2024)
- TCS positioned as a “Major Player” in IDC MarketScape: Asia/Pacific Digital Core Banking Platforms 2024 Vendor Assessment for its TCS BaNCS product. (Source: IDC MarketScape: Asia/Pacific Digital Core Banking Platforms 2024 Vendor Assessment, doc # AP50463723, Sept 2024)
- TCS BaNCS wins XCelent Award for "Breadth of Functionality” and positioned as a "Luminary" in Celent's Retail Core Banking Systems – North American Mid-Large Bank Edition report (Source: Retail Banking Core Banking Systems: North American Mid-Large Bank Edition, Craig Focardi, Daniel Mayo, May 2023)
- Great Southern Bank wins Celent Model Bank 2023 Award for Open Banking which included the use of the TCS BaNCS solution. Celent States: TCS was the principal partner for the Open Banking Platform design, build, and testing. This included the implementation of the Open Banking product from TCS BaNCS. TCS developed a set of open banking APIs specifically for the Australian market based on their knowledge and experience with building Banking and Customer APIs for their customers in the UK. (Source: Great Southern Bank: Using Compliance To Drive Innovation, Kieran Hines, Mar 2023) (Link to PR)
- TCS BaNCS wins XCelent award for “Customer Base and Support” and positioned as a "Functionality Standout" in Celent's Small Business Digital Banking Platforms: International Edition. TCS BaNCS won an xCelent award for Customer Base and Support based on the size of its customer base, relatively strong growth over the past two years, and customer feedback. In addition, its functionality score earned the Functionality Standout award (Source: Celent, Small Business Digital Banking Platforms: International Edition, Alenka Grealish, Jan 2023)
- TCS BaNCS recognized among “Large Vendors” in Forrester’s Digital Wealth Management Platforms Landscape, Q4 2023 (Source: Forrester, The Digital Wealth Management Platforms Landscape, Q4 2023, Vijay Raghavan, Nov 2023)
- TCS BaNCS is positioned as a Leader in Omdia Universe: Cloud-based Core Banking, 2023 report. According to Omdia: TCS BaNCS is a very strong core banking product that has a broad and rich set of functionalities to meet the needs of a diverse range of banks, particularly a universal bank that has to manage multiple lines of business. (Source: Omdia, Omdia Universe: Cloud-based Core Banking, 2023 Philip Benton, Ouliana Smith, Aug 2023)
- TCS positioned as a Leader in Everest Group's Capital Markets Operations - Services PEAK Matrix Assessment 2023. TCS BaNCS' Wealth Management and Wealth Advisory solution mentioned as one of the strengths in the report (Source: Everest Group, Capital Markets Operations - Services PEAK Matrix Assessment 2023, Manu Aggarwal, Dheeraj Maken, Sakshi Maurya, Aditya Mahajan, Suman Upardrasta, Mar 2023) (Link to PR)
TCS BaNCS Marketplace
TCS BaNCS Marketplace quoted as a Strength in Everest Group’s Wealth Management Products PEAK Matrix® Assessment 2024. TCS BaNCS’ robust partnership ecosystem approach, materialized as TCS BaNCS Marketplace, integrates with FinTechs such as Adobe, eMudhra, Gieom, Moxo, and Yodlee for enhancing its WM capabilities to create a comprehensive digital experience (Source: Wealth Management Products PEAK Matrix® Assessment 2024, Ronak Doshi, Pranati Dave, Kriti Gupta, Kriti Seth, Pooja Mantri, Oct 2024)
TCS BaNCS Marketplace cited as a “Strength” in Everest Group's report which positions TCS as a Leader in Open Banking IT Services PEAK Matrix Assessment 2024 (Source: Everest Group, Open Banking IT Services PEAK Matrix Assessment 2024, Ronak Doshi, Pranati Dave, Apoorva, Saumil Mishra, Ayan Pandye, Jul 2024) (Link to the PR)
Everest Group quotes “TCS BaNCS Global Banking Platform along with its TCS BaNCS Marketplace partner ecosystem and innovation hub, provides a suite of products and services spanning various asset classes such as assets and liabilities, cash, securities, and crypto assets. It empowers financial institutions to craft and deliver contextual CX” (Source: Future-ready Customer Experience Management (CXM): Trends Driving BFSI Industry, Everest Group, David Rickard, Chhandak Biswas, Aman Birari, Nimish Sharma, June 2024)
Recognizing TCS BaNCS’ wider impact on partners and the ecosystem that complements its existing payment hub strengths, the Omdia Universe: Payment Hubs report highlights the TCS BaNCS Marketplace, which provides customers with access to more than 25 partner solutions in the payments space. (Source: Omdia, Omdia Universe: Payments Hubs, 2024-25, Ouliana Smith, Oct 2024)
TCS BaNCS Marketplace cited as a Strength & Differentiator for having an Extensive Partner Ecosystem (over 100+ partners) in Celent's Small Business Digital Banking Platforms: International Edition (Source: Celent, Small Business Digital Banking Platforms: International Edition, Alenka Grealish, Jan 2023)
TCS BaNCS Marketplace featured as an Ecosystems Enabler for supporting an outside-in approach and incorporation of curated use cases from fintechs/partners to drive innovation and monetization in Celent's Retail Banking Core Banking Systems North American Mid-Large Bank Edition report (Source: Retail Banking Core Banking Systems: North American Mid-Large Bank Edition, Craig Focardi, Daniel Mayo, May 2023)
TCS BaNCS Marketplace cited as a "Strength" in Omdia Universe: Cloud-based Core Banking, 2023 Omdia states: TCS BaNCS is seen increasingly as a provider of end-to-end banking services but is also focusing on its marketplace with a growing number of partners in its ecosystem. This contributed to high scores in both its broader platform capability and partners/ecosystem capabilities. (Source: Omdia, Omdia Universe: Cloud-based Core Banking, 2023, Philip Benton, Ouliana Smith, Aug 23)
Disclaimer
Licensed extracts taken from Everest Group’s PEAK Matrix® Reports, may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group’s PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group’s analysts and included in Everest Group’s PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports.
