|
Mumbai:
TCS Financial Solutions, a strategic business unit of Tata Consultancy Services,
has been ranked `amongst the top two IT facilities in China'', by independent research
group IDC. The
ranking is based on TCS Financial Solutions'' (TCSFS) performance in 2006, a company
release said. "TCSFS
has emerged as a major force in China''s banking IT solutions market after winning
major deals with Bank of China and Huaxia Bank", IDC, a leading provider
of global IT market research, said in its report. TCS
Financial Solutions, focused on providing state-of-the-art business application
solutions, said IDC has ranked one of its flagship products, BaNCS Core Banking,
as the top core banking solution in China, based on its performance in the year
2006, China," the IDC said in its report, China Banking Industry
IT Solution 2007-2011 Forecast and Analysis."The
recognition from IDC is evidence of TCSFS'' continuous commitment to deliver excellence
through its global delivery network, and also its ability to provide Chinese corporations
and global customers with best-in-class technology products and solutions,"
Ginja Pande, EVP and regional head, TCS Asia Pacific, said. IDC
estimates the market for core banking solutions (excluding hardware) in China
at RMB 1,036.6 million in 2006, up 23.8 per cent over 2005. Core banking solutions
accounted for 23.8 per cent of the overall banking solution market and constituted
the No.1 category of bank IT solutions spending. China ''s banking IT expenditures,
the IDC report said, are expected to increase 15.1 per cent or RMB 42.1 billion
by 2007. IDC
forecasts the China banking IT market to reach RMB 72.4 billion by 2011. Tata
group company TCS offers a consulting-led, integrated portfolio of IT and IT-enabled
services delivered through its unique Global Network Delivery Model, and recognised
as a benchmark of excellence in software development.company
generated consolidated revenues of $4.3 billion for fiscal year ended 31 March
2007.
|
