Software solutions and consulting services company Tata Consultancy Services (TCS) has announced the extension of its product offerings in the banking sector with the launch of RISKSCAN, a banking solution for the Indian marketplace and Enterprise Wide Risk Management (EWRM), both in association with the Melbourne-based JYI Risk Management Services. The offerings are designed to provide effective solutions to the challenges of risk measurement and management faced by banks worldover and to facilitate the adoption of quantitative techniques and international best practices in risk management.

TCS vice-president Girija Upadhyaya said the Banking and financial sector contributes 40 per cent to the company's revenues. With RISKSCAN and consulting services around EWRM, the firm intends to broadbase its range of offerings to cover temporary and future needs of banking industry. These initiatives are in line with the company's endeavour towards moving up the value chain. The target market includes banks in India and in other emerging markets. RISKSCAN, she explains, has been programmed to provide the probability of default (PD) and risk rating following the input of key financial ratios.

Future plans associated with RISKSCAN envisage the extension of the model to other markets. The product can incorporate customised features which can be built into it depending on the user bank's requirements. A customised data warehousing solution offered for instance will enable RISKSCAN to link to the bank's database and to extract information of relevance to the lending banker. TCS has also developed a model for Indian Banks to adopt EWRM in a phased manner.