NEW YORK and MUMBAI, India, Oct. 17, 2016 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that TCS has been recognized as a Leader for the sixth consecutive year in the Everest Group report, "IT Outsourcing in Global Capital Markets – Service Provider Landscape with PEAK Matrix™ Assessment 2016 and Profiles Compendium," September 2016.
TCS was recognized for its comprehensive suite of IP/tools/accelerators/frameworks for capital markets application services and significant expansion in its operations capabilities, driving cost effectiveness and productivity in its engagements.
Everest Group analyzed the capabilities of 27 leading AO providers, specific to the global capital markets sector. These providers were mapped to Everest Group's Performance, Experience, Ability Knowledge (PEAK) Matrix™, which is a composite index of a range of distinct metrics related to each provider's capability and market success.
"Beyond a relentless push on cost containment, capital markets firms are adopting disruptive business models, mutualizing costs through shared utilities, and investing in digital technologies to stay ahead of competition," said Jimit Arora, Partner, Everest Group. "A comprehensive capital markets IT services portfolio, delivery excellence and responsiveness, high levels of client satisfaction, flexible engagement models, and investments in innovative technologies helped TCS enhance its position as a Leader on the 2016 Everest Group Capital Markets AO PEAK Matrix."
"We are proud to be recognized as a Leader in Everest Group's PEAK Matrix Global Capital Markets AO 2016, for the sixth year in a row," said Susheel Vasudevan, Vice President and Head of Banking and Financial Services, TCS. "This is testimony to our relentless focus on our customers' goals, strategic business partnerships and investments in end-to-end digital financial solutions."
Buy-side and sell-side firms are investing in risk and compliance, automation, big data and analytics, Blockchain, and third party platforms. TCS is significantly investing in building and enhancing domain specific solutions as well as developing advisory and PoCs for technologies such as Blockchain and robo advisor among others.
To view the full TCS Leader position profile in Banking Application Outsourcing (AO) by Everest Group, click here.
About TCS' Banking and Financial Services Business Unit
With over four decades of experience working with the world's leading banks and financial institutions, TCS offers a comprehensive portfolio of domain-focused processes, frameworks, and solutions that empower organizations to respond to market changes quickly, manage customer relationships profitably, and stay ahead of competition. Our offerings combine customizable solution accelerators with expertise gained from engaging with global banks, regulatory and development institutions, and diversified and specialty financial institutions. TCS helps leading organizations achieve key operational and strategic objectives across retail and corporate banking, capital markets, market infrastructure, cards, risk management, and treasury.
About Tata Consultancy Services Ltd. (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, BPS, 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 371,000 of the world's best-trained consultants in 45 countries. The company generated consolidated revenues of US $16.5 billion for year ended March 31, 2016 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.tcs.com
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SOURCE Tata Consultancy Services