TCS upgrades BαNCS for capital markets and payments

Source: Tata Consultancy Services

Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading global IT services and consulting firm, announced today that the newest version product suite for TCS BαNCS solutions for Corporate Actions, Market Infrastructure, Securities Processing, Securities Trading were unveiled at the Annual Customer forum on the sidelines of SIBOS, Hong Kong.

TCS BαNCS for Payments also was launched on version 5 at this annual rendezvous with customers from around the world.

Explaining how the product roadmap and customer strategy are interconnected, N. Ganapathy Subramaniam, President - TCS Financial Solutions said" During our inaugural meeting we laid out the vision to our customers and solicited their wish list and pain points."." A unique aspect of this product breakthrough is our Service Integrator through which we can configure and leverage our component base" We are delighted that this new version of TCS BαNCS for Capital Markets and Payments are a direct result of our close relationships with customers and their uninhibited feedback".

We endeavor to build quantum improvements in each of our new versions, said R. Vivekanand, Global Product Head - Market Infrastructure. Functionality, Technology, Process and Market requirements are the parameters we have significantly addressed in this version. "Ability to support multiple asset classes, Enhanced connectivity, Advanced risk monitoring and Improved cross border settlement are some of the benefits that our clients have experienced where this Product suite has just been deployed."

"Enhanced usability and Ease of deployment are two key benefits our customers will certainly harvest through version 5 of TCS BαNCS for Payments" said Nitin Sirohi, Head of Payments. Our Payments engine is completely STP (Straight Through Processing) oriented to cut delays throughout the payment cycle."

Salient Benefits of version 5 of TCS BαNCS Capital markets & Payments
• Improvement in customer service and customer experience
Increased focus on tax reclaims life cycle and support for regulatory
• Greater flexibility in managing through real-time anticipations & projections
• Significant leap in usability and operations monitoring capacity
• Enhanced ability for Banks to cross sell and onboard customers
• Heightened compliance and Optimization of transaction flow
• Reduced risk and cost of message transport
• Improved integration with third party products & full compliance with industry messaging standards like SWIFTFIN, FIX , ISO20022 etc.

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