TCS launches SaaS platform for asset servicing of financial institutions


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(Last Updated On: September 30, 2019)

This past Tuesday, Tata Consultancy Service has launched TCS BaNCS Cloud for asset servicing of all classes of assets across all markets.

This service is targeted towards broker-dealers, custodians, asset managers and investment and private banks, it was said in a statement by TCS.

Tata has taken advantage of the greater standardisation and bigger cravings for shared systems, operations and infrastructure in the asset servicing industry, the programme supplies end-to-end business operations management capability, while, as the company had claimed, “enhancing business agility, simplifying operations and future-proofing the enterprise .”

Organisations can subscribe to more than one service across the asset servicing value chain, including Golden Copy Announcement creation, processing of income, mandatory or voluntary events. The platform is also available in a managed service model, as TCS run this service on behalf of their customers.

The cloud-based platform assists various business lines, which include custody, brokerage, investment banking, asset management, retail and private banking. It automates the processing of all types of corporate events, across product types, including derivatives, across all markets. The platform’s risk-based workflows and extensive configuration capabilities ensure high levels of straight-through processing, adhering to SMPG guidelines. High levels of automation and continual market and regulatory compliance (including ongoing SRD2 – Shareholders Rights Directive) help reduce the conversion and maintenance costs.

“By leveraging TCS BaNCS for Corporate Actions, the Quartz Blockchain solution, data analytics and workflow solutions, we have put together one of the most modern platforms for capital markets firms worldwide. Early adopters of our new platform, large multinational firms across different geographies, have expressed appreciation at how it helps them gain business agility and seamlessly access new product capabilities and technological innovations with minimal disruption,” said R Vivekanand, Vice-President and Co-Head, TCS Financial Solutions.


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