TCS rolls out BaNCS Cloud to automate asset servicing

TCS rolls out BaNCS Cloud to automate asset servicing
Photo Credit: Photo Credit: Reuters
24 Sep, 2019

Mumbai-based information technology services provider Tata Consultancy Services (TCS) has rolled out BaNCS (bank assessment for non-point source consequences of sediment) Cloud platform for asset servicing across all markets.

The solution is targeted at custodians, broker-dealers, asset managers and investment and private banks, the company said in a statement.

TCS claimed its software-as-as-services (SaaS) platform provides end-to-end business operations management capability while simplifying operations.

"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.

The core of the new SaaS platform is the flagship TCS BaNCS for corporate actions product, which is integrated with solutions for event feeds, tax management and proxy voting from vendors, the statement said.

The platform's risk-based workflows and configuration capabilities ensure high levels of straight-through processing which helps to reduce the conversion and maintenance costs, the company added.

TCS recently rolled out real-time payments solution platform in multiple markets including the US.