NEW YORK and MUMBAI, India, March 9, 2020 /PRNewswire/ -- Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group Services PEAK MatrixTM assessment for Application and Digital Services in Capital Markets1 2020.
In an assessment of 29 service providers offering application and digital services in the capital markets segment, TCS was placed highest for market impact. The report cites TCS' strategic approach to fintech collaboration – its Co-Innovation Network – to build an innovation ecosystem and its ability to leverage the ecosystem to address gaps in offerings, as strengths. It also highlights the company's extensive experience in distributed agile implementations for large scale transformation projects. According to the report, customers cite TCS' ability to overcome challenges during implementation and post-implementation support, as a key strength.
"Solutions leveraging blockchain, AI, machine learning, and cloud are transforming operations, enabling frictionless interactions with ecosystem partners and helpingdeliver exceptional customer experience in the capital markets domain," said K Krithivasan, Global Head, Banking, Financial Services and Insurance, TCS. "This recognition by an independent third-party research firm is a testament to our vision, robust capabilities across the capital markets value chain and the resultant market success."
TCS has more than four decades of experience working with the world's largest companies in the capital markets segment. It offers a complete portfolio of services that span business, digital and IT consulting, application development and maintenance, infrastructure services, cognitive operations and product implementation.
The company has a strong footprint across the entire capital markets value chain and has been partnering banks and financial institutions in key initiatives, such as launching a digital private bank, implementing a robo advisory platform, application transformation, building a micro services/ API-based platform, cloud adoption and migration, AI- and ML-based analytics and robotic process automation.
TCS has launched offerings that provide end-to-end services from planning to execution. These include hybrid digital advisory, crypto custody, sell-side front office customer experience transformation, customer onboarding, automation, analytics, cloud migration and so on. The company's LIBOR transition offering focuses on creating awareness on LIBOR migration and its impact on the business, then draws up an implementation roadmap, and accelerates the transformation journey with the help of accelerators.
"The uncertain macroeconomic environment has slowed transformation timelines and decision-making in the capital markets industry. Customer-facing functions are being disintermediated by digital-native FinTechs. At the same time, margin pressure is forcing capital markets firms to develop alternatives to their traditional offerings," according to Ronak Doshi, Vice President, Everest Group. "Focused investments to augment CXM platform capabilities, vast experience in managing distributed agile delivery for large scale engagements, and strong recognition among clients of its competitive pricing and solutioning flexibility have helped TCS secure a position as a Leader on the Everest Group Application and Digital Services in Capital Markets – Services PEAK Matrix® Assessment 2020."
"With our deep contextual knowledge, Location Independent Agile Model, extensive capabilities in application transformation, and investments in research and innovation, including our Co-Innovation Network, we are well-positioned to help customers stay ahead of the curve," added K Krithivasan.
About Tata Consultancy Services Ltd. (TCS) Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for the last 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent AgileTM delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 440,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.