TCS BaNCS Scores Top Rankings in Celent's ABCD Analysis

MUMBAI, India, March 8 /PRNewswire-FirstCall/ -- TCS Financial Solutions, a strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS) dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced today that TCS BaNCS has received top accolades in Celent's "Core Banking Solutions For Large Banks" report.  In its proprietary framework called the Celent ABCD Vendor View that profiled major technology providers across four dimensions, TCS BaNCS is rated at the top in the Advanced Technology, Breadth of functionality and Depth in Client Services categories. TCS Financial Solutions is the only vendor to have scored top rankings in more than one parameter. The report evaluated more than ten of the top vendors for large global banks in each category.

Commenting on the report, N. Ganapathy Subramaniam, President - TCS Financial Solutions, said, "Our vision of providing business success and certainty to our customers through our solutions has again been firmly validated through such an esteemed accolade. This further reinforces our commitment to delivery excellence to customers and prospects throughout the world. We will continue to raise the bar to make TCS BaNCS the Banking Industry's solution of choice."

Bart Narter, the analyst and lead author of the report, said, "TCS Financial Solutions has gained a lot of ground. Their focus on product engineering and customer centricity are two critical factors that contributed to the success of TCS BaNCS. Specific domain expertise, global presence and the global delivery model continue to be their strengths in all the major markets."

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 Ltd (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 140,000 of the world's best trained IT consultants in 42 countries. The Company generated consolidated revenues of US $6 billion for fiscal year ended 31 March 2009 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.

About Celent

Celent is a research and consulting firm focused on the application of information technology in the global financial services industry. The firm has two basic offerings:

• Research, providing members with continuous knowledge and advice,
• Consulting, working with clients on specific strategy issues.

Celent's analyst team is organized by financial services industry vertical: Banking, Securities & Investments, as well as Insurance. These analysts produce monthly research reports for our members, and are available to members to further explore issues and questions that may arise. This direct access to Celent's analysts means that members can immediately contact established experts on a large variety of issues within financial services technology.

SOURCE Tata Consultancy Services