TCS Financial Solutions, a strategic business unit of Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NS) dedicated to providing business application solutions to the banking, insurance and capital markets industries announced that TCS BaNCS has been placed in the Leaders Quadrant in the International Retail Core Banking report. TCS BaNCS is one of the 18 core banking platforms that were profiled from an original list of 40 submissions.
Gartner defines leaders as vendors that demonstrate strong development methodologies and all of these vendors have a measurable strategy for disaggregating core banking software functionality into component-based constructs. Many vendors possess methodologies for quality assurance or are executing on a strategic road map to attain certification. Most vendors maintain a strong banking market understanding through methodical processes and have extensive marketing delivery and sales channels. Although there are many well-balanced vendors/products in this quadrant, some are in transition and possess evolving products, process maturity, or both.
NG Subramaniam, President, TCS Financial Solutions said ?Our customer-centric approach of building solutions and a highly mature product engineering capability continue to demonstrate success in solving pressing customer problems. We believe our placement in the report only substantiates our promise of delivering certainty to our esteemed clients.? The report titled Magic Quadrant for International Retail Core Banking 2010 was authored by Don Free on September 13, 2010.
TCS BaNCS Core Banking solution version 10 is the center piece of this evaluation along with myriad other aspects that cumulatively drive the go-to-market strategy for TCS Financial Solutions. The latest version contains features like generic loan origination, best of breed process enablement and SOA readiness, and richly functional Islamic banking. Utilizing sophisticated integration methodologies, techniques and tools, this version also presents innovative functional enhancements in the areas of lending, deposits, origination, preferential pricing, securitization, trade finance and treasury. This advanced solution is further enriched with the addition of business rule-driven TCS BaNCS Origination product and enables a 360 degree view of the customer.