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PRESS RELEASE
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Reinforces position as a Leader in Core Banking software globally
Mumbai, India, April 18, 2011: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions firm, announced today that TCS BaNCS has been named a Global Challenger by Forrester Research Inc. Close on the heels of being named a leader in the December 2010 report “The Forrester Wave™: Global Banking Platforms, Q4 2010,” TCS BaNCS continued its momentum by again being named as a Global Challenger in the March 2011 report entitled “Global Banking Platform Deals 2010.”
The Forrester report is an authoritative commentary on the core banking software market as it provides a total landscape of the vendors and banks across the globe. More than 20 technology vendors are profiled with their annual performance. The report states, “TCS Banking Platform was successful in Africa, Asia - Pacific, Europe, the Middle East and North America, with Asia Pacific and Europe being the most active regions for TCS BaNCS.” The report also mentioned that “Deutsche Bank signed a deal with TCS to implement TCS BaNCS for retail and corporate banking across 30 countries outside Germany.”
NG Subramaniam, President, TCS Financial Solutions said, “TCS BaNCS continued its steady progress on the basic premise of solving customers’ problems. As long as our product capability hinges on the success of financial institutions we support, our promise of “Experience Certainty” comes alive in a measurable way. To that end, TCS BaNCS will always be a customer-centric platform.”
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 drive growth, reduce costs, mitigate risk and offer a faster speed-to-market for our customers. TCS Financial Solutions deliver state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, please visit 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 (GNDM™), recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 186,500 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 March 31, 2010 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, please visit www.tcs.com.
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