TCS forms SBU for financial services
The Hindu — May 29, 2007

Tata Consultancy Services (TCS) on Monday announced the formation of TCS Financial Solutions, a new strategic business unit to consolidate its financial products business.

TCS Financial Solutions will function as a "products company" within the TCS family and drive growth in the financial products business. It will have a separate management team headed by N G Subramaniam as president, a company release said.

The new unit will have sales, support and product management offices in New York (for North America and Caribbean markets), London and Zurich (Europe), Beijing (Greater China), Sydney (Southeast Asia and Australia), Sao Paolo (Latin America) and Bangalore (India, Middle-East and Africa).

According to Subramaniam: "We will continue to differentiate ourselves by bringing certainty of implementation leveraging our strong domain capabilities, thereby maximising efficiencies and minimising risks for each of our customers." TCS Financial Solutions has a customer base of 214 financial institutions across 80 countries. In the last fiscal, the company won over 50 new customers, while 35 new installations of its products went live globally.