TCS Once Again Recognized as a Top Vendor in the Financial Services Industry
NEW YORK | MUMBAI, November 13, 2014: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, today announced that it has been recognized as a leading global financial technology provider in two respected annual rankings of the top vendors that garner more than a third of their revenue from the financial services industry. TCS was ranked second in the ‘FinTech Forward Top 100’ by American Banker and BAI, and the ‘IDC Financial Insights FinTech Rankings Top 100.’ TCS has ranked second for the third year in a row and maintained a top ten position in FinTech rankings for the past seven years.
“We are extremely honored to be recognized year after year as a top technology provider,” said K Krithivasan, President, Banking and Financial Services, TCS. “This prestigious designation is the result of our sustained commitment to our financial services customers and our focused investments on emerging technologies to meet their business needs.”
TCS’ banking, financial services and insurance services (BFSI) represented 43 percent of the company’s overall FY14 revenue and demonstrated an overall growth of 29.35 percent compared to FY13. The BFSI space 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. Emerging technology trends such as digital, channel, integration, big data, analytics, and social media continue to play a large part in the success of these new operating models.
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. Each solution in the TCS BaNCS family has been designed to fully integrate with existing business models, enterprise infrastructures and technology architectures. Adopted as a platform of choice by major institutions around the world, TCS BaNCS addresses critical industry needs and enables business transformation by providing customers with scalable, customizable, market-ready solutions including Universal Banking, Core Banking, Payments, Compliance, Financial Inclusion and more.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is 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 300,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 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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