20 August 2017
Find out more

Nedbank Investor Services signs for TCS BaNCS

25 February 2011  |  4245 views  |  0 Source: Tata Consultancy Services

Tata Consultancy Services (BSE: 532540, NSE: TCS) a leading global IT services and consulting firm, announced today that Nedbank Investor Services (NIS), a division of Nedbank Limited, has selected the TCS BaNCS suite of products to replace its existing securities and custodial applications.

TCS BaNCS Securities Processing will provide increased compliance with rules and regulations across markets as set out by Nedbank, enhanced Straight-Through-Processing across all functional areas and markets with minimal user intervention, and economies of scale through reduced system and operational costs. Further, with a web-based front-end for comprehensive processing, the solution will provide a richer and convenient user experience while also building customer loyalty.

Louise Currie, General Manager, Nedbank Investor Services, said, "After extensive analysis of various parameters including functional fit, scalability, Service-Oriented Architecture (SOA), compliance and the ability to support the solution in South Africa and other parts of Africa as well, NIS selected the TCS BaNCS suite of products. This solution will help us extend our footprint beyond equities and money markets and actively engage in the bonds markets. As market leaders in South Africa, the flexibility and commitment shown by TCS during the entire process of evaluation was a revelation for Nedbank."

N Ganapathy Subramaniam, President, TCS Financial Solutions, said, "With this new engagement with Nedbank Investor Services, about 70 percent of the custody transactions in South Africa run on TCS BaNCS. This win reiterates our commitment to the South African market and our ability to deliver off-the-shelf products and implement the same in a short span of time."

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
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
9224 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7933 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7409 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
6794 views 0 | 1 tweets | 1 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6543 views 1 | 5 tweets | 3 linkedin

Featured job

Find your next job