NEW YORK and MUMBAI, India, June 30, 2015 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been named a 'Leader' in Mortgages and Lending by NelsonHall in its 2015 report, "NelsonHall's NEAT for Mortgage & Loan Outsourcing."
NelsonHall's vendor Evaluation and Assessment Tool (NEAT), is part of its Speed-to-Source initiative, and is a method by which sourcing managers can strategically evaluate vendors at the onset of the screening process. Using a two-axis model, vendors are assessed against their ability to 'deliver immediate benefit' to buy-side organizations and meet 'clients future requirements.' The latter axis is a pragmatic assessment of the vendor's ability to take clients through an innovation journey over the lifetime of their next contract. Service providers are divided into four categories: Leaders, High Achievers, Innovators and Major Players.
TCS' position as a leader was driven by its extensive experience in large-scale mortgage process re-engineering, its proprietary banking platform to provide BPaaS M&L services, and established onshore delivery presence," said Andy Efstathiou, Director of Banking BPO research at NelsonHall. "TCS' capabilities in M&L services have been developed with a diversified client portfolio and many consulting engagements where TCS has provided consulting roadmaps to their clients. These experiences and capabilities help position TCS for success in M&L BPO."
"TCS is in the forefront of providing a superior customer experience through its offerings and is helping mortgage service providers re-engineer and automate operations to improve processing time, reduce costs, and increase flexibility while adhering to increased regulatory requirements," said Dinanath Kholkar, Vice President & Global Head of Business Process Services at TCS. "NelsonHall's positioning TCS as leader is a direct result of our strategy to build IP and domain expertise, certifications, digital offerings, automation and standardization of processes for customers around the globe."
With the rising costs of increased regulations and an expectation for an end-to-end process transformation approach, mortgage and lending institutions are seeking partners who can provide transformation solutions which allow them to address the challenges and costs of increased regulations and help them to introduce new offerings to market or enter new markets. TCS helps clients achieve these goals through its FORE™ simplification methodology, the Robotic Process Automation (RPA) framework, TRAPEZE™ solution accelerators, as well as its analytics and cloud based solutions to provide M&L service on a BPaaS basis that gives clients flexibility in buying services to match the cyclical nature of the loan business.
About TCS' Business Process Services (BPS) Unit
Enterprises seek to drive business growth and agility through innovation in an increasingly regulated, competitive, and global market. TCS helps clients achieve these goals by managing and executing their business operations effectively and efficiently. TCS' Business Process Services (BPS) include core industry-specific processes, analytics and insights, and enterprise services such as finance and accounting, HR, and supply chain management. TCS creates value through its FORETM simplification and transformation methodology, backed by its deep domain expertise, extensive technology experience, and TRAPEZETM suite of solution accelerators and governance enablers. TCS complements its experience and expertise with innovative delivery models such as robotic automation and providing Business Processes as a Service (BPaaS). With over four decades of global experience and a delivery footprint spanning six continents, TCS is one of the largest BPS providers today. Follow TCS BPS on Twitter @TCS_BPS.
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 319,000 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