Tata Consultancy Services (TCS), is one of the leading IT services, consulting and business solutions organization, today it has been ranked second on FinTech 100 which is the annual ranking of the top technology vendors that garner more than one-third of their revenue from the financial services industry. Named by the Bank Technology News, American Banker and IDC financial Insights, TCS has held number second spot on their list for last three successive years and maintaining top 10 position seven years successively for this recognition.
K. Krithivasan, President, Banking and Financial Services, TCS said,
[quote]We are extremely honored to be recognized as the top technology provider for seventh consecutive year in FinTech 100 ranking. This prestigious destination is the result of our sustained commitment to our clients in the financial services industry and our focused investments on the emerging technologies to meet our clients business needs.[/quote]
TCS’ banking, financial and insurance services represented 43% of the company’s overall FY14 revenue and demonstrated an overall growth of 29.35% compared to FY13. BFSI space continues to be an area of extensive growth for TCS as companies look to develop new operating models with the focus on rebuilding profitability, optimizing costs and improving efficiency. Emerging technology trends such as digital, channel integration, analytics, big data and social media continue to play large part in success of these new operating models.
TCS’ product BaNCS is the globally acclaimed software which enables transformation in the financial services through the superior and holistic suite of solutions for capital market firms, banks, insurance companies and other diversified financial institutions. Every solution in the TCS’ BaNCS family has been designed to fully integrate with the existing business models, technology architectures and enterprise infrastructures.
TCS’ BaNCS is adopted as the platform of choice by the major institutions around the world, it addresses the critical industry needs and the enables business transformation by offering customers with customizable, scalable and market ready solutions including universal banking, Core Banking, Payments, Financial inclusion and more.