Leading the way in innovation for over 55 years, we build greater futures for businesses across multiple industries and 55 countries.
Our expert, committed team put our shared beliefs into action – every day. Together, we combine innovation and collective knowledge to create the extraordinary.
We share news, insights, analysis and research – tailored to your unique interests – to help you deepen your knowledge and impact.
At TCS, we believe exceptional work begins with hiring, celebrating and nurturing the best people — from all walks of life.
Get access to a catalog of the latest news stories from across TCS. Discover our press releases, reports, and company announcements.
Venkateshwaran Srinivasan
Global Head, TCS Financial Solutions (TCS BaNCS)
You have these already downloaded
We have sent you a copy of the report to your email again.
At TCS BaNCS, we always look at the horizon for the next set of possibilities while being firmly focused on the now and here. On one hand, we strive to provide the predictability, resilience, and reliability for which our customers partner with us, while at the same time, we have to carefully adapt and weave technology disruption that is happening all around us into the TCS BaNCS ecosystem such that it prepares our customers for the future. Given the scale at which technology itself is getting disrupted, this has been a busy season.
In the developed world, running up to the year 2050, it is estimated that we will probably be in the midst of the biggest intergenerational transfer of wealth ever, with estimates varying across hundreds of billions of dollars. This also means that every part of the wealth management value chain -- from investment strategies to tax optimization requires a revisit. Technology primarily needs leveraging to enhance the quality of the two fundamental cornerstones of wealth management - advice and relationship management.
The experience provided by the so-called “wealth front office” is only as good as the core securities and cash back-office processing. It is in that context that TCS has been working closely with the North American financial ecosystem to see how TCS BaNCS, as a multi-asset class platform across cash, securities, and crypto and with an integrated 360-degree client view, can help wealth management firms deliver value at scale and seize the opportunity available to them.
The US capital markets value chain is, in a sense, disrupting itself under the hood with the T+1 initiative, and by its sheer scale has a positive impact on global markets. It is forcing every participant in the chain to relook at the assumptions of money management and cross-border trades, especially in the world where retail investors are key and need to be protected. Technically, more velocity is being given to a transaction as it changes the paradigms of cross-border trade cut-off times, liquidity, efficiency, margins, counterparty risks, and regulatory oversights, to mention a few.
Given the configurable rule-driven architecture of TCS BaNCS and the fact that the core principles of T+1 are already built into the product for other securities markets which were already in T+1, the migration to T+1 will be quite seamless for our partner banks in the U.S.
Another key area we continue exploring is AI, which demands acceleration given the current disruption of Generative AI. “How do we make any use of AI predictable and testable in TCS BaNCS”? is the paramount question, considering its mission-critical nature. It was more critical to get the principles of “white box testing” right with the securities and corporate actions use cases before we released it for the obvious business benefits that the use cases would offer. We see the exciting possibilities in the area of operational risk control as well as operational efficiency benefits.
Cloud adoption is another track on which some of our clients have embarked, and some have also completed the transition. Across institutions of all types in terms of scale and breadth, cloud adoption seems to be more a question of how much and when and not so much of a “whether.” The power of harnessing ecosystems and data that the cloud seamlessly enables, and its unparalleled business agility are powerful drivers, and we expect this to play out among the major North American market players in the next few years.
Edition #36 of the TCS BaNCS Customer Newsletter focuses on our work in the securities processing space in North America.
"How do we make any use of AI predictable, testable in TCS BaNCS”? is the paramount question, considering its mission-critical nature.