Tata Consultancy Services has designed and built a new scalable system for National Securities Depository Ltd. This new system will be the Central Recordkeeping Agency for the union government's new pension system (NPS).
As a long-term technology partner of NSDL, TCS has undertaken the entire responsibility of the project as an end-to-end systems integrator, from conceptualisation of the solution to the development, implementation, deployment and administration of hardware and system software. TCS will also continue to support and maintain the Central Record Keeping System as well as provide enhancements and ensure scalability as the number of records increases.
''We have always exhibited a sustained commitment to mission-critical projects in the Indian market and the new centralised pensions records system is another example of how TCS has helped create world-class financial services infrastructure in India from stock and commodity exchanges to banks and depositories,'' said S Ramadorai. "In partnership with NSDL, we have built a state-of-the-art pension records system in just 6 months which is capable of scaling up to meet the needs of this fast-growing economy.'
According to Gagan Rai, CEO, National Securities Depository Limited TCS has been NSDL's technology provider since the depository's inception, "as they can build and deploy world-class solutions within defined time limits. The new central records system for pensions is technologically advanced and will be able to meet the needs of the users optimally.''
The benchmarks for the new pensions record keeping system are high. The system has been built to ensure high availability with disaster recovery. Security has been given primary importance in the system with role based access controls and public-key infrastructure-based solutions.
The system has also been built to ensure scalability as the volumes increase without change of system design or architecture. It can book large number of records with a high response time. It is also interoperable between platforms