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PRESS RELEASE
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Mumbai, April 20, 2010: TCS Financial Solutions, a strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS) dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced enhancements to its multi-asset, multi-market, multi-channel securities trading platform, TCS BaNCS, for the GCC region. Deployed at leading financial institutions across Bahrain, Muscat, Saudi Arabia, the securities trading platform will support regional trading in the GCC and international markets through direct membership or a partner-broker model.
With real-time integration between the front- and back-office products, users can view, block or release funds and securities online while enabling informed decision-making through web-based portfolio evaluation and risk management tools.
On the occasion N G Subramaniam, President, TCS Financial Solutions, said “We have played the role of a trusted technology partner to the GCC countries for many years. With the release of the multi-asset, multi-channel securities trading solution, we hope to further reinforce our commitment to deliver state-of-the-art and innovative solutions to financial institutions in the region.”
By supporting multiple channels such as the Internet, mobile, ATMs, IVR and SpeedX, this high-speed trading platform provides a superior trading experience to all customers, especially the high-net-worth (HNW) segment with real-time streaming of quotes, fast order entry and advanced tools such as charting, slicing and basket orders.
With mobile trading supported as a channel of convenience, TCS BaNCS securities mobile trading offers customers the same experience as that with a web portal. One of the most significant trends in the last few years has been the growth of the mobile phone from a simple device for voice communication to an intelligent device with flexible communication interfaces set to replace the laptop.
The TCS BaNCS mobile application empowers banks and brokerages with increased market share and enhanced customer loyalty and brand equity. It supports comprehensive order management alongside providing multiple watch lists, portfolio information and valuation data, including advanced trading functionality. Designed to run on smart phones, mainstream personal digital assistants and other mobile devices, this solution will go towards a delivering a unique customer experience.
About TCS BaNCS Securities Trading
TCS BaNCS Securities Trading, part of the TCS BaNCS universal financial services platform, provides a functionally comprehensive and scalable trading platform for broker-dealers, meeting the requirements of both their institutional and retail business lines. The system offers seamless integration of trading and risk management and supports various markets, asset classes, languages and currencies. The system connects with several liquidity destinations for order execution, and interfaces with market data vendors for information capture, low-latency streaming, and display of Level I and Level II Quotes from multiple markets. The system provides various options for connectivity with clients via multiple channels such as the Internet, Browser-based/Applets, ATM, IVR, kiosks and handheld devices.
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best of breed solutions that will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base of more than 240 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 160,000 of the world's best trained IT consultants in 42 countries. The Company generated consolidated revenues of over US $6.3 billion for fiscal year ended 31 March 2010 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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