20 October 2017
visit www.response.ncr.com

Morroco's Maroclear rolls out TCS BαNCS Market Infrastructure

19 November 2008  |  1974 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.innotribe.com visit www.niceactimize.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
16082 views comments | 12 tweets | 4 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8338 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
7950 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7318 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6657 views comments | 10 tweets | 21 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job