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TCS BaNCS wins custody solution award

New York, Dec 5, : Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, on Thursday announced that TCS BaNCS for securities processing was named winner in the custody category at the First Annual Global Custodian Technology, Consultancy and Law Awards for Excellence that were held at the Harvard club in New York City.


These awards celebrate the firms that were recognized in client perception surveys conducted by Global Custodian.

TCS BaNCS for corporate actions was also a finalist in the Corporate Actions category.

On the awards program and selection criteria, Alexandra DeLuca, Global Custodian's Editor, said, "These awards aim to recognize and celebrate the solutions that are transforming the capital markets industry. As today's custody world becomes increasingly complex, in part thanks to an ever-evolving regulatory landscape, we found that TCS BaNCS was providing a robust trade processing platform with readily integrated corporate actions and cash processing capabilities in real-time settlement."

Commenting on the award, Arun Arunachalam said, "TCS BaNCS ensures a highly scalable processing infrastructure while managing high volumes of local as well as cross-border trades apart from the increased diversity and complexity of financial instruments. Central to our strategy is a highly collaborative approach of multiple stakeholders, such as customers, prospects, analysts and other industry players who participate to create a product roadmap."

"As a result, TCS BaNCS delivers enriched connectivity to new markets, market specific functionality and compliance to country wise regulatory and tax reporting requirements," he said.

TCS BaNCS for securities processing/custody is positioned for custodians, banks and financial institutions. Its real-time, multi-entity, multi-currency, multi-asset, multi-market, multi-lingual application enables end-to-end trade-to-settlement processing to address the business needs of custodians (Global, Regional and Sub-custodians).

--IBNS (Posted on 05-12-2013)

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