TCS Named a Leader in Banking BPO Digital Capability Platform Services by Everest Group
Tata Consultancy Services’ RPA and Cognitive Solutions, and its Broad-based Coverage of Solutions across the Entire Banking Value Chain, were Cited as Key Strengths
NEW YORK | MUMBAI, July 01, 2019: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK MatrixTM for Banking BPO Digital Capability Platform (DCP) Services[1].
The report highlights TCS’ RPA solution suite that designs and captures business process automations that can be executed by software robots without manual intervention. It goes on to say that TCS’ cognitive solution ignioTM leverages machine learning, NLP and natural language generation techniques to generate intelligent business insights. The report also says that TCS’ solutions have a broad-based coverage across the entire banking value chain and address a multitude of areas such as customer on-boarding, credit underwriting, trade finance, payments and dispute management.
“Banks are leveraging cognitive technologies to build their digital core as they move forward in their Business 4.0TM transformation journeys,” said K Krithivasan, Global Head, Banking, Financial Services and Insurance, TCS. “This recognition is a testament to our vision, differentiated capabilities in intelligent digital technologies, and high market impact.”
TCS employs its Business 4.0TM framework, aided by its Machine-First Delivery Model (MFDMTM) to facilitate automation across end-to-end business processes. It has developed a holistic transformation framework to proactively understand business requirements and identify the right solutions to meet customers’ needs. TCS embeds cognitive and digital technologies in its banking business operations services. Solutions include the following:
- Robotic Process Automation Solution: A unique model-based approach to automation that identifies business processes which can be executed by software robots, without manual intervention.
- Cognitive Extraction Suite: The suite contains tools that leverages advance machine learning and NLP ability for document digitization, handwriting recognition, comparison, object recognition and digital form decoding. It also comes with utilities like signature check, signature processing, comparison, and integration capabilities. The solution helps simplify customer onboarding, KYC processes, mortgage, underwriting, control testing of all banking functions and quality check functions.
- TRAPEZETM Suite for Digitization and Automation: A BPM-based workflow and case management suite aimed at simplifying floor operations – tracking, measurement and reporting. The suite can be implemented in multiple processes, including account opening, transaction services, trade/ market monitoring, card processing and monitoring, and dispute management.
- Decision Fabric: A next generation cognitive solution that enables the automation of complex business processes to improve efficiency, productivity and scalability. Features include an ingestion fabric, human reading mimicking, computer vision for image enhancements and analytics, audio analytics and reasoning.
- TCS Vitellus: A web-based, ready-to-use GUI tool that delivers high-end visual analytics. The tool leverages a growing repository of basic and advanced visual representations, and is augmented by TCS’ value added services.
“As the banking industry moves to a digital-first model, banks need to bring together their investments across RPA, analytics, etc. to deliver on an integrated user experience,” Manu Agarwal, Practice Director, BFS Business Process Services, Everest Group. “TCS has a wide array of solutions across each of these layers, making it a Leader in DCP services in banking business operations.”
“TCS has been leveraging its deep industry knowledge and structured research and innovation investments to continually find new use cases in each customer’s business context to transform using automation, artificial intelligence, analytics and cloud. With these solutions and our intellectual property, we are helping our customers drive growth and transformation in their businesses,” added Krithivasan.
About Everest Peak Matrix™
Everest Group’s PEAK Matrix™ assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products & solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix to gauge and calibrate their offerings against others in the industry or market. Leading organizations around the globe trust these comparative assessments because of their unbiased evaluation of factors such as vision, capabilities/functionality, talent availability, market success/impact, and cost.
About Tata Consultancy Services Ltd. (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 the last fifty 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 424,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, 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 Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
[1] Banking BPO Digital Capability Platform (DCP) Service Providers Landscape with Solutions PEAK MatrixTM Assessment 2019, Manu Agarwal, Everest Group, April 2019
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