TCS BαNCS gains BISS accreditation for corporate actions and finance

Source: BISS

Benchmarking company B.I.S.S. Research has announced TCS BαNCS Corporate Actions, from TCS Financial Solutions has once again achieved the B.I.S.S. Corporate Actions Accreditation in all three market sectors of Broker Dealer, Custodian and Asset Manager.

Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said "Tata Consultancy Services has rebranded all its financial services products as TCS BαNCS and we are delighted that TCS BαNCS Corporate Actions has again proved its outstanding qualities in the B.I.S.S. Benchmarking tests.

The industry panel is always impressed by this system and its features, which are reflected in the high scores it continues to receive. In the resulting benchmark report, the analyst has made special note of the extensive range of functionality found within TCS BαNCS suite of modular products that combine to make the system one of the best available in the world today.

The new enhancements introduced this year are maintaining this product's eminent position and will continue to ensure its highly competitive position when buyers are looking for a Corporate Actions solution. It was also noted in the report that TCS BαNCS has all the functional richness found in legacy system but on a modern technical platform. We are so pleased that the B.I.S.S. Corporate Actions Accreditation has once again been assigned to this outstanding system."

Mr. N. G. Subramaniam, President, TCS Financial Solutions states "TCS Financial Solutions is proud to be honoured with B.I.S.S. Corporate Actions Accreditation. TCS BαNCS Corporate Actions automates the Corporate Actions life-cycle helping organizations to deliver accurate and timely data to stakeholders. We continue to deliver product superiority to the world's leading financial institutions that improve operational efficiency and drive revenue growth."

Separately, B.I.S.S. Research, the exclusive research company offering a unique benchmarking of services and systems in the financial services sector, today announced that TCS BαNCS business application solution has achieved the world's first 'Corporate Finance' B.I.S.S Accreditation. TCS BαNCS system's functionality was measured against generic industry requirements found within the Corporate Finance departments of Investment banks and other financial institutions involved in new issues within the fixed income and equity markets.

Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said "We have been undertaking an exclusive analysis of the existing systems in the market and their ability to support the creation and settlement of primary market deals. TCS Financial Solutions has developed a highly efficient and innovative system - TCS BαNCS - which was tested against the B.I.S.S. benchmarking methodology. We are delighted to announce that TCS BαNCS exceeded the benchmarks set and has been awarded the world's first accreditation for a Corporate Finance system. The integration of TCS Financial Solutions various modules to produce the Corporate Finance system is an outstanding achievement which will be noticed by the world's leading corporate finance banks as a big step to bringing STP into an area of the business still bereft of modern technology. The installation of TCS BαNCS system will bring new efficiencies as well as a range of cost and risk reductions to Corporate Finance organisations and more importantly their corporate clients."

Mr. N. G. Subramaniam, President, TCS Financial Solutions said "TCS has been participating in B.I.S.S benchmarking over the last five years. The benchmark has provided the company with an exceptional market perspective that has assisted TCS Financial Solutions to align our products to evolving industry requirements. We are delighted to be awarded the World's first accreditation for a Corporate Finance system. Turning technology into a competitive advantage will assist the global Corporate Finance industry to both drive revenue growth and reduce total cost of ownership."

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