TCS Ranked Number One on the 2015 IDC Financial Insights
FinTech Rankings Top 100
TCS Recognized as a Top Vendor in the Financial Services Industry for the Eighth Consecutive Year
HONG KONG, September 16, 2015: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced it has been recognized as the leading global financial technology provider in the 2015 IDC Financial Insights FinTech Rankings Top 100. TCS moved into the top position after being ranked second since 2012, and maintaining a top-ten ranking for the past eight years.
“We are extremely proud to be recognized as the top technology provider in the global financial services industry,” said K Krithivasan, President, Banking and Financial Services, TCS. “This is a result of our sustained investment and innovation focused on our customers’ business goals. We would like to thank our customers, who have continued to place their trust in TCS for all these years.”
“We congratulate TCS on reaching the number one position on the 2015 IDC Financial Insights FinTech Rankings,” said Jerry Silva, Research Director for global retail banking research at IDC. “Their continued presence in the top 10 on our rankings demonstrates their success and positive impact on financial services technologies globally.”
TCS’ banking, financial services and insurance services (BFSI) business represented 40 percent of the company’s overall FY15 revenue. 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 financial institutions around the world of all sizes, TCS BaNCS addresses critical industry needs and enables business transformation by providing customers with scalable, customizable, market-ready solutions.
Now in its 12th year, the IDC Financial Insights FinTech Rankings is the industry standard to categorize and evaluate the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software and/or services.
TCS Digital Software & Solutions Group Introduces ‘Customer Intelligence & Insights’ for Retail Banks
Modular Software Solution Delivers 360˚ View of Customer to Optimize End-User Experience, Reduce Costs and Attract New Customers
HONG KONG, September 16, 2015: Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, today announced its Digital Software & Solutions (DS&S) group has launched a new TCS ‘Customer Insights & Intelligence’ (CI&I) software solution for retail banks.
The recent TCS Global Trend Study, Internet of Things: Complete Reimaginative Force, finds that the most important business process improvement for financial institutions is the ability to tailor products and services around a single user point of view. As consumer preferences in banking rapidly evolve, financial institutions are racing to catch up with trends by increasing innovation investments in IoT, mobile, digital, and social technologies, which are large disruptors to the way people chose to do their banking today.
The CI&I solution is pre-integrated and modular software designed specifically for the retail banking industry to accelerate the transition from a product-focused organization to a customer-centric enterprise. The solution captures and analyzes structured, unstructured, high volume, and high velocity data to create a single view of the customer and provides actionable intelligence about behaviors across channel and organizational silos.
“Most banks have an urgent key digital imperative to understand their customers more deeply to address expanding expectations and deliver a personalized end user experience across a multitude of financial offerings and banking channels,” said Seeta Hariharan, General Manager and Group Head of TCS’ DS&S group. “Because CI&I for Retail Banks can be deployed extremely quickly, financial organizations can accelerate and even leapfrog this digital initiative. For example, we are working with a client today who plans to have the solution fully operational in as little as six months, rather than the 12-18 month deployment typical of other solutions that require excessive time and money to integrate.”
CI&I for retail banks features a unified set of data models and out-of-the-box KPIs that address key business issues relevant to the banking industry. The configurable solution does not require customization and is architected to provide highly flexible delivery options and ease of integration. It is designed to deliver real time customer insights through all customer interactions across social, operational and business channels to help retail banking organizations identify and offer highly targeted, customer centric offerings, while reducing operational costs for the enterprise.