Tata Consultancy Services’ Advisory Capabilities, the Solution’s Flexible Deployment Options, and Well-Established Ecosystem of Technology Partners, Cited as Key Strengths
PRESS RELEASE
NEW YORK | MUMBAI, January 16, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), announced that TCS BaNCS™ has been recognized as a Leader in Everest Group’s PEAK Matrix® for Wealth Management Products[1].
The report profiles 16 software providers catering to the wealth management value chain, targeting a range of investors from ultra / high net worth to corporate, mass affluent, non-profit, and family offices, for a distinct set of metrics related to overall vision, solution capabilities and market impact.
The report cites TCS’ advisory capabilities specific to all segments along with its excellent execution capabilities, as a key strength. It highlights that TCS BaNCS’ integration capabilities in a homogeneous platform architecture, enable smooth operations. It goes on to say that the end-to-end offering can be deployed in a BPaaS construct, demonstrating flexible and easy deployment modes. Cited as a key strength is TCS BaNCS’ well-established ecosystem of technology partners that helps it enhance operational and technical capabilities.
“TCS has been investing in wealth technology with the objectives of helping innovate advisors’ practices and building a superior digital customer experience across the entire wealth management spectrum, including mass market and affluent segments that are growing rapidly,” said Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS. “Our leadership position in this report reflects our focus on building capabilities that cater to the new age demands of wealth management across a variety of customer segments, giving customers the flexibility to select the solutions they need via a deployment mode of their choice.”
TCS BaNCS’ comprehensive suite of services encompassing wealth and asset management, provide a breadth of capabilities across advisory services, portfolio management and execution, fund accounting, valuation, clearing, making it a comprehensive, tailored proposition for wealth management institutions.
The solution’s SaaS based approach and cloud-native architecture have helped financial institutions scale globally and enhance their footprint. Its zero touch, low code approach and usage of a range of cognitive technologies are helping advisors make the right recommendations to their clients, combat fraud and protect data.
“Focused investments in developing an end-to-end solution, robust integration capabilities in a homogenous platform architecture, and offerings for advisory solutions catering to all segments has helped TCS BaNCS in improving the value proposition for wealth management clients,” said Kriti Gupta, Practice Director, Everest Group. “Dedicated focus on expanding its ecosystem of technology partners thereby enhancing its capabilities and offerings suite has enabled TCS BaNCS secure a positioning as a Leader in Everest Group’s Wealth Management Products PEAK Matrix® Assessment 2022.”
[1] Wealth Management Products PEAK Matrix Assessment 2023
About TCS BaNCS
The TCS BaNCS universal financial solution is designed to help financial services institutions enhance end customer experience, enabling them to embrace open and innovative technologies that embody true digital customer engagement. Deployed at more than 450 installations worldwide, it is the largest collection of components, enterprise and consumer apps for the financial industry made available through the cloud, helping firms become more agile and intelligent by leveraging the power of new and extended ecosystems.
To know more about TCS BaNCS, please visit: www.tcs.com/bancs
About Tata Consultancy Services (TCS)
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 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This 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 613,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) 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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