16 August 2017
Find out more

Morroco's Maroclear rolls out TCS BαNCS Market Infrastructure

19 November 2008  |  1950 views  |  0 Source: TCS Financial Solutions

TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS) dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced today that Maroclear, the Central Depository of Morocco, has selected TCS BαNCS Market Infrastructure to modernise its legacy systems, automate processing and enhance employee productivity.

Fathia Bennis, CEO, Maroclear, said, "With TCS BαNCS Market Infrastructure, we will be deploying a state-of-the art depository solution that will enable us to server our customers better and strengthen the overall clearing and settlement market in Morocco. A modern technology backbone enables a more agile enterprise as we address the challenges of the marketplace in this region."

Rachid Haboub, Secretary General, Maroclear said:"Over the last ten years, Maroclear demonstrated its ability to meet the securities industry's need for certainty, reliability and business continuity. By switching over to the TCS BαNCS application, Maroclear is carrying out a major technological enhancement, demonstrating its strong commitment to upgrade the settlement system, and provide more value-added services and straight-through functions to the marketplace.

"This software modernization will assist Maroclear to reduce risk and enhance confidence in Morocco's securities market," said N. Ganapathy Subramaniam, President, TCS Financial Solutions. "Such a technology transformation will drive new product development opportunities and set new benchmarks in Morocco's growing economy."


Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.worldpaymentsreport.comdownload the paper now

Top topics

Most viewed Most shared
hands typing furiouslyBI and Analytics - A New Perspective
10881 views 0 | 2 tweets | 12 linkedin
Coinbase raises $100mCoinbase raises $100m
9954 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9311 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
8999 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8177 views comments | 6 tweets | 21 linkedin

Featured job

Find your next job