Asia''s largest software company Tata Consultancy
Services (TCS) has decided to give a big thrust to its
financial services business by forming a separate strategic
business unit (SBU) called TCS Financial Solutions.
SBU will be the single market facing unit of TCS in
the financial products domain but will leverage the
development and system integration competencies of TCS
for customer engagements.
Financial Solutions will have a separate management
team headed by NG Subramaniam as president. The SBU
will have sales, support, product management offices
based in New York (North America and Caribbean), London
and Zurich (Europe), Beijing (Greater China), Sydney
(South East Asia and Australia), Sao Paolo (Latin America),
Bangalore (India, Middle-East and Africa).
offerings from TCS Financial Solutions will be positioned
under an umbrella brand called TCS BaNCS. This service
oriented architecture (SOA) integrated product family
consists of functional modules for anti-money laundering,
channel services, customer relationship management,
core banking, corporate actions, enterprise application
integration, global custody, insurance, lending &
borrowing, online trading, payments, private banking
and wealth management.
the recent times TCS'' financial products business have
been growing at a good speed. In 2006-07 the division
recorded a revenue of $170 million up from $102 million
registered the previous year. The division has 214 customers
spread across 80 countries. Last fiscal the division
won over 50 new clients. In India the SBU has State
Bank of India as its major client.
to Subramaniam, "This is a strategic initiative
from TCS that further demonstrates our commitment to
this business and articulates the maturity achieved
in the various facets of a product business like product
management, support and professional services."