NEW YORK, Oct. 22 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS), a leading IT services, consulting, business solutions and outsourcing firm, today announced that it has been ranked 4th on the FinTech 100, an annual international listing of the top vertical technology vendors that derive more than one third of their revenue from this industry as named by American Banker, Bank Technology News and IDC Financial Insights.
For the fourth straight year, TCS has been named in the top 10 on FinTech100. With approximately 45 per cent of TCS' revenues attributed to banking, financial services and insurance in financial year 2009-10, TCS climbed two spots from last year. The FinTech 100 ranking is categorized and evaluated based on calendar year revenues and the percentage of revenue attributed to financial services.
"We have improved our position on the FinTech rankings two positions over last year. That speaks volumes about the organization's ability to navigate and grow even when the global economy has seen a phase of shake-up and massive change," said N. Ganapathy Subramaniam, President, TCS Financial Solutions. "The promise to our clients is an offer of Certainty through our products, services and people. We are delighted with this ranking and such accolades only spur us to new levels of dedication and client success."
"TCS is an example of a company that has persevered to expand its base and break into new markets and expand its capabilities within financial services," said Jeanne Capachin, Research Vice President, Global Banking and Insurance, Financial Insights. 2009 was a difficult year for most FinTech firms, but TCS was able to grow its revenues and sign new deals in a turbulent market."
For more information about the rankings, visit www.financial-insights.com/fintech
To view the FinTech Special report, visit www.AmericanBanker.com/fintech100
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 will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base of more than 240 institutions operating in over 80 countries, TCS Financial Solutions delivers 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, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services 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 160,000 of the world's best-trained IT consultants in 42 countries. The company generated consolidated revenues of over US $6.3 billion for fiscal year ended March 31, 2010 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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SOURCE Tata Consultancy Services