In an assessment of 34 leading banking operations services providers, TCS was designated as a leader by Everest Group for its vision and capability, scope of services, and coverage across all major geographies and client segments.
The report highlights:
- TCS’ well-rounded capabilities as a banking service provider across the full spectrum and coverage across all major buyer geographies and client segments. Its adoption of a business process as a service (BPaaS), and consulting-led approach with a high focus on transformation and hyper-automation.
- TCS’ good client retention rate in banking BPS with more than 95% of revenue being driven by repeat accounts. TCS has seen high growth in new locations such as Canada, Australia, and Ireland in recent years.
- The company’s focused investment in developing future models such as ESG (EU taxonomy alignment solution, and green mortgage tool), cognitive banking services (open-banking interface, metaverse, risk prediction models), and other in-house banking automation tools.
- TCS’ strategic movement from an offshore-centric model to a nearshore/onshore one. Around 15-20% of its FTEs are now based in nearshore centers.