NEW YORK and MUMBAI, India, Dec. 17, 2013 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, today announced that TCS BaNCS was named a Best In Class provider in CEB TowerGroup's report "Core Banking System for Large Banks." Authored by Robert Hunt and Phung Phan, this report profiled fourteen core banking systems that power the banking industry globally. TCS BaNCS achieved Best-In-Class Distinction in three of four categories including: Customer Centricity, Operational Flexibility and Enterprise Support.
Commenting on the report and TCS BaNCS, CEB TowerGroup Senior Research Director, Robert Hunt said "TCS BaNCS received "Best-in-Class" ratings in 3 out of 4 categories of the CEB TowerGroup Core Banking Diagnostic anatomy, reflecting both the breadth and depth of the product's offering as well as its proven reliability in serving as the central processing engine at some of the largest banks globally. TCS BaNCS' Relationship Pricing capability also came across as a strong feature in the product demonstration, a pressing need for large financial institutions."
S Samba, Principal Consultant - TCS BaNCS, said, "This report is yet another validation of our product vision and roadmap that is focused on the Customer. Over the years, we have strived to make TCS BaNCS' functionality expansive and our implementation track record impeccable.
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CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated "best in class." CEB TowerGroup research publications consist of the opinions of CEB TowerGroup's analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best-of-breed solutions that drive growth, reduce costs, mitigate risk and offer a faster speed-to-market for our clients. With a global customer base of more than 280 institutions operating in over 80 countries, TCS Financial Solutions deliver state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 285,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
SOURCE Tata Consultancy Services