TCS Recognized as a "Leader" in Retail Banking BPO by NelsonHall Report recognizes TCS' industry expertise in core banking, mortgage and loans, and payments
NEW YORK and MUMBAI, India, March 3, 2014 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been recognized as a 'Leader' in NelsonHall's December 2013 NEAT vendor evaluation for Retail Banking Business Process Outsourcing (Core Banking, Mortgage/Loan, and Payments market segments).
NelsonHall positioned TCS as a "Leader" based on the company's experience with global banking clients, its major presence in retail banking BPO; its broad retail banking BPO capabilities in mortgages, cards and deposits; and, its established onshore delivery presence. These findings were generated from a comprehensive analysis and assessment by NelsonHall of TCS' ability to deliver immediate benefit to its customers and its ability to meet future customer requirements. In addition, TCS' customers were interviewed and questioned for measurements of levels of partnership.
"TCS provides a powerful combination of platform and process based retail banking BPO services," said Andrew Efstathiou, Director, Banking Sourcing Program, NelsonHall. "When partnering with TCS, clients felt as though they had access to consultants who are capable of executing against immediate demands while developing a clear roadmap for further improvements."
"We are honored to be recognized by NelsonHall as a leader in the Retail Banking BPO market," said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. "We see this recognition as a testament to our team's ability to help meet the strategic business objectives of our clients. Our investments in domain expertise and technology platforms, coupled with our portfolio of delivery options across TCS' Global Network Delivery Model (GNDM™) offers global banks a strong platform to help transform their operations."
As a result of the global financial crisis, the retail banking industry has evolved and is looking for a long-term change in operational delivery from localized risk-based product delivery (proprietary offers) to standardized transaction-based service delivery (flow business). The industry is looking to companies like TCS, who offer industry domain knowledge, a robust delivery mechanism (GNDM™) and technology (BαNCS Platforms) to enable them to manage their operations in more effective and efficient ways.
NelsonHall's Evaluation & Assessment Tool (NEAT) is a method by which strategic sourcing managers can evaluate outsourcing vendors and is part of NelsonHall's Speed-to-Source initiative. The NEAT tool sits at the front-end of the vendor screening process and consists of a two-axis model: assessing vendors against their 'ability to deliver immediate benefit' to buy-side organizations and their 'ability to meet client future requirements'. The latter axis is a pragmatic assessment of the vendor's ability to take clients on an innovation journey over the lifetime of their next contract. The service providers are divided into four categories: Leaders, High Achievers, Innovators and Major Players.
About TCS Business Process Services (BPS)
Business Process Services (BPS) at TCS is about managing & executing business operations. Our domain expertise helps deliver core business processing across industries, analytics & insights and support processes such as accounting, HR and supply chain management. TCS partners with customers to accelerate co-transformation, and generates business value for customers through delivery excellence, risk management and through innovative models such as Platform BPS which delivers process as a service. With annual BPS revenues of greater than US$ 1.44 billion, TCS is one of the largest BPS providers with 50,000+ employees servicing 225+ customers across the globe.
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 290,000 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