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Everest Group reports recognize TCS’ scale, scope and domain investments in the banking and capital markets IT outsourcing segment
Mumbai | London, February 17, 2015: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that it has been recognized as a Leader in banking and capital markets Application Outsourcing Services (AO) in Europe by leading advisory and research firm Everest Group in two reports; Everest Group PEAK Matrix: European Banking IT Outsourcing Service Providers’ Assessment 2014 and Everest Group PEAK Matrix: European Capital Markets IT Outsourcing Service Providers’ Assessment 2014.
TCS helps businesses operating in capital markets and banking industries optimize investments, enhance operational efficiencies, minimize risk and maintain competitive pricing. In both its banking and capital markets IT outsourcing reports, Everest Group praised TCS’ scale, scope and domain investments, which were recognized as a major contributor to the company’s success.
Jimit Arora, Vice President, Everest Group, commented, “The European banking industry has seen a strong return in discretionary spending in areas such as application development for customer centricity, digital technologies and regulatory compliance. Demand for IT outsourcing grew within capital markets in Europe as firms leveraged technology for regulatory compliance, to cut costs and drive efficiency. TCS’ Leader position reflects its comprehensive offering and ability to deliver effectively for clients.”
Susheel Vasudevan, Head, Banking and Financial Services, TCS, commented, “It feels special to be once again recognized as a ‘Leader’ in European Banking and Capital Markets Application Outsourcing Services by Everest Group. This recognition highlights the strong market success and continued domain investments we have made in the financial services industry. We work closely with our financial services customers, helping them to drive efficiencies and embrace the changes required in this new digital era.”
The Everest Group evaluated 20 vendors for its banking IT outsourcing report and 18 for its capital markets IT outsourcing report. The vendors were mapped against Everest Group’s Performance, Experience, Ability, Knowledge (PEAK) Matrix, which is a composite index of several distinct metrics related to a provider’s capabilities and market success. Service providers are then split into three categories: Leaders, Major Contenders and Emerging Players. The Everest Group also profiled the capabilities of these leading service providers in detail, giving a comprehensive overview of their service scope, scale of operations, domain investments, delivery footprints and market success.
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 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions 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 601,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE 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
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