Only IT firm in the world to appear in the top ten of Banking, Capital Markets and Insurance segments
BAI RDS, Orlando Florida / Mumbai, India, November 20, 2008: Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading global IT services and consulting firm, announced today that American Banker and leading research firm Financial Insights, an IDC company, ranked TCS 6th in the FinTech 100, an international annual listing of the top technology providers for financial institutions. According to this year's list, TCS is the highest ranked Indian IT firm on this annual list.
TCS has also found a place among the top ten of the three sub-categories listed in the FINTECH 100 report namely Banking, Capital Markets and Insurance. The FinTech 100 is an annual, internationally recognized ranking that is categorized and evaluated based on fiscal year-end revenues and the percentage of revenue attributed to financial services. More than 40 per cent of TCS’ revenues were attributed to financial services in financial year 2007-08.
“Our steady growth and firm commitment to the global financial services industry is being recognized by the leap in our rankings” said N. Ganapathy Subramaniam, President, TCS Financial Solutions “We will continue to solve deep customer problems and enable them to accomplish their key goals in these turbulent times”.
“TCS is the only company that is consistently moved up the rankings in the last three years by demonstrating growth around the world” said Jeanne Capachin, Research Vice President, Global Banking and Insurance, Financial Insights. As financial institutions are grappling with upheavals, they are pressed for solutions that can pervade across the enterprise and TCS is best positioned to address such opportunities.”
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 will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base of more than 240 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 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, recognized as the benchmark of excellence in software development.
A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 120,000 of the world's best trained IT consultants in 42 countries. The Company generated consolidated revenues of US $5.7 billion for fiscal year ended 31 March, 2008 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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