NEW YORK and MUMBAI, India, July 17, 2015 /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 a Global Leader in the Card Management and Transaction Processing Vendors Part IV: Professional Services Firms report by Celent, a research and consulting firm focused on the application of information technology in the global financial services industry.
Eight professional services firms, eight issuer processors and eleven packaged software vendors were reviewed by Celent, highlighting differences amongst the companies across multiple dimensions such as total revenue in dollars, importance of the Financial Services segment, Cards-related employees, number of Cards clients, particular geographic strength and services focus. The vendors were divided into three categories based on their market presence. TCS was recognized as a Global Leader for its partnerships with clients across areas of the value chain, key imperatives, card products and functions.
"Companies included in our latest research offer a diverse range of card management and transaction processing solutions and services," said Zilvinas Bareisis, Celent Senior Analyst and the author of the reports. "TCS has a large and strong Cards and Payments Practice serving many clients around the world, which is why we recognized it as a Global Leader in professional services."
"TCS is proud to be recognized as a Global Leader in card management and transaction processing by Celent," said K Krithivasan, President of Banking and Financial Services for TCS. "This recognition shows TCS' investment and commitments to upgrading client cards management and transaction processing (CMTP) technologies and capabilities. TCS is delighted with its industry leadership in this space."
In 2014, Celent kicked off a research effort to understand the landscape of vendors and service providers in card management and transaction processing, with a goal of developing an overview of each vendor's capabilities, focus areas, market presence and looking at the vendors' perspectives on industry trends.
About TCS' Banking and Financial Services Business Unit
With over four decades of experience working with the world's leading banks and financial institutions, TCS offers a comprehensive portfolio of domain-focused processes, frameworks, and solutions that empower organizations to respond to market changes quickly, manage customer relationships profitably, and stay ahead of competition. Our offerings combine customizable solution accelerators with expertise gained from engaging with global banks, regulatory and development institutions, and diversified and specialty financial institutions. TCS helps leading organizations achieve key operational and strategic objectives across retail and corporate banking, capital markets, market infrastructure, cards, risk management, and treasury.
TCS has been ranked #2 in the 2014 FinTech Rankings Top 100 of global technology providers to the financial services industry, by both - FinTech Forward™ (a collaboration of American Banker and BAI) and IDC Financial Insights. TCS has also been recognized as a 'Leader' and a 'Star Performer' in Everest Group's 2014 PEAK Matrix reports for Banking and Capital Markets Application Outsourcing (AO).
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 324,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $15.5 billion for year ended March 31, 2015 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