NEW YORK and MUMBAI, India, Sept. 26, 2016 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that it has been recognized as the leading global financial technology provider in the 2016 IDC Financial Insights FinTech Rankings Top 100. TCS earned the top position for the second consecutive year after maintaining a top-ten ranking for the past ten years.
"We congratulate TCS for maintaining the number one position on the 2016 IDC Financial Insights FinTech Rankings for the second year," stated Karen Massey, senior analyst for banking at IDC Financial Insights. "The momentum TCS has shown since the inception of the rankings 13 years ago highlights their success in global financial services technology and commitment to the industry."
"We are honored to be recognized as the top technology provider in the global financial services industry for the second year in a row," said K Krithivasan, President, Banking and Financial Services, TCS. "This ranking shows that for over a decade, our customers and partners have been valuing and rewarding our commitment, industry expertise and continued investment."
TCS' banking, financial services and insurance services (BFSI) continues to be an area of extensive growth for TCS as companies look to develop new operating models with a focus on rebuilding profitability, optimizing costs and improving efficiency. TCS' flagship product, TCS BaNCS, is a globally acclaimed software brand that enables transformation in financial services through a superior and holistic suite of solutions for banks, capital market firms, insurance companies, and other diversified financial institutions. TCS BaNCS continues to grow its customer base with more than 25 new client wins in the past year, including key wins in China and the Nordics.
This is the 13th year for the IDC Financial Insights FinTech Rankings, which are based on the revenues of leading global technology and services providers to the financial services industry.
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 362,000 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