TCS BαNCS Securities Trading solution to support TAIB Bank’s Internet Trading market entry
Mumbai, India, 11th February, 2008 – TCS Financial Solutions, the 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 today that TAIB Bank, one of the Middle East’s first private banks with a focus on providing complete investment and wealth management solutions to both high-net-worth individuals and institutional investors, has selected TCS BαNCS Securities Trading solution to assist the Bank to enter the Internet Trading market.
TCS BαNCS Securities Trading solution provides a comprehensive order, execution management and trading platform for both institutional and retail focused broker-dealers. The system offers seamless integration of trading and risk management and supports various markets, asset classes, languages and currencies. The business application connects with several liquidity destinations for order execution and interfaces with market data vendors for data capture, low-latency streaming, and display of Level 1 and Level 11 quotes from multiple markets.
TAIB Bank selected the advanced TCS BαNCS Securities Trading solution due to its outstanding ability to help TAIB Bank expand into a number of new stock exchanges as well as provide access to clients through new electronic access channels. TCS BαNCS Securities Trading solution will also provide TAIB Bank with direct market access to investors through Internet trading, assist to provide real-time market data information as well as offer a facility to place orders within 20 global exchanges.
“TCS BαNCS Securities Trading solution will provide TAIB Bank with a highly scalable trading platform that will assist to drive revenue growth and attract new customers,” stated Mr. Mohammed Saleh, COO and President, of TAIB Bank. Mr. Deepak Katyal, Vice President, Information Technology added that “We decided to work with the TCS Financial Solutions team due to their in-depth technical skills in providing enterprise software solutions to banks, complete understanding of our business needs and expert implementation skills.”
Mr. N. Ganapathy Subramaniam, President, TCS Financial Solutions states: “TCS Financial Solutions is committed to assisting financial institutions in the Middle East region to drive new product development initiatives forward. With the highly functional TCS BαNCS Securities Trading solution I am confident that TAIB Bank will play a vital role in building the region’s expanding Internet trading market.”
About TAIB Bank
TAIB Bank B.S.C. (c), a private bank based in Bahrain, was established in 1979 and is regulated by the Central Bank of Bahrain. It is listed on the Bahrain Stock Exchange since 1994, TAIB is one of the region's first private banks with a focus on providing complete wealth management solutions to both high-net-worth individuals and institutional investors alike. The main strength of TAIB lies in identifying and creating unique investment opportunities. The headquarters of TAIB Bank is TAIB Tower, located in the Diplomatic Area of Manama, Bahrain. This is also the home to the Private Bank, TAIB Bank B.S.C. (c), as well as its brokerage subsidiary, TAIB Securities W.L.L.
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 BαNCS. 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 in excess of 200 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 TCS 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 108,000 of the world's best trained IT consultants in 47 countries. The Company generated consolidated revenues of US $4.3 billion for fiscal year ended 31 March, 2007 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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