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PRESS RELEASE
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TCS Recognized as a Top Vendor in the Financial Services Industry for the Tenth Consecutive Year
NEW YORK | MUMBAI, September 26, 2016: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that it has been recognized as the leading global financial technology provider in the 2016 IDC Financial Insights FinTech Rankings Top 100. TCS earned the top position for the second consecutive year after maintaining a top-ten ranking for the past ten years.
“We congratulate TCS for maintaining the number one position on the 2016 IDC Financial Insights FinTech Rankings for the second year,” stated Karen Massey, senior analyst for banking at IDC Financial Insights. “The momentum TCS has shown since the inception of the rankings 13 years ago highlights their success in global financial services technology and commitment to the industry.”
“We are honored to be recognized as the top technology provider in the global financial services industry for the second year in a row,” said K Krithivasan, President, Banking and Financial Services, TCS. “This ranking shows that for over a decade, our customers and partners have been valuing and rewarding our commitment, industry expertise and continued investment.”
TCS’ banking, financial services and insurance services (BFSI) continues to be an area of extensive growth for TCS as companies look to develop new operating models with a focus on rebuilding profitability, optimizing costs and improving efficiency. TCS’ flagship product, TCS BaNCS, is a globally acclaimed software brand that enables transformation in financial services through a superior and holistic suite of solutions for banks, capital market firms, insurance companies, and other diversified financial institutions. TCS BaNCS continues to grow its customer base with more than 25 new client wins in the past year, including key wins in China and the Nordics.
This is the 13th year for the IDC Financial Insights FinTech Rankings, which are based on the revenues of leading global technology and services providers to the financial services industry.
About TCS' Banking and Financial Services Business Unit
With over four decades of experience working with the world's leading banks and financial institutions, TCS offers a comprehensive portfolio of domain-focused processes, frameworks, and solutions that empower organizations to respond to market changes quickly, manage customer relationships profitably, and stay ahead of competition. Our offerings combine customizable solution accelerators with expertise gained from engaging with global banks, regulatory and development institutions, and diversified and specialty financial institutions. TCS helps leading organizations achieve key operational and strategic objectives across retail and corporate banking, capital markets, market infrastructure, cards, risk management, and treasury.
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 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions 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 601,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE 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
To stay up-to-date on TCS news in North America, follow @TCS_NA. For TCS global news, follow @TCS_News.
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