June 05, 2018

TCS BaNCS recognised as the number 2 top selling Universal Banking system in Global Sales League Table

MUMBAI: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation announced that its flagship product TCS BaNCS was ranked the number two best-selling Universal Banking system by UK based IBS Intelligence. The IBS Sales League Table is the definitive banking industry list of which vendors across the globe have sold the largest number of core systems.

The 2018 Sales League Table ranks 51 suppliers’ sales, profiling 1,078 system purchases, made by 917 banks, in over 124 countries, across 10 system categories. Commenting on the IBS ranking, V Ramkumar, senior partner IBS and SLT panel member, said,“The banking industry's most exhaustive and reliable guide for purchase decisions is built upon rigor and diligent research, and we found TCS BaNCS to be consistently raising the bar in delivery excellence and product capability over the past many years. Banking industry is a conservative marketplace and it is tough to stay at the top over a long period of time.”

Venkateshwaran Srinivasan, head, TCS Financial Solutions, said, "Our mission is to enable banks to rapidly adapt to the evolving Business 4.0 environment by providing a robust digital banking platform across retail, private and corporate banking segments. TCS BaNCS, as a component-by-design solution since its inception, is a Cloud based platform with comprehensive capabilities that enable banks to fully exploit opportunities in the market where experience is fast becoming the key differentiator. TCS BaNCS is partnering several financial institutions globally on their digital transformation journeys by providing seamless integration with open banking standards, insightful analytics and the ability to tailor the digital experience for their end customers.”