TCS Financial Solutions' payments product wins technology award
June 28, 2007

TCS Financial Solutions has successfully launched a unified European payments solution — TCS BaNCS Payments — using which clients can homogenously process multiple payment products, achieve consolidation of operations and IT infrastructure as well as dramatically improve client servicing and operational efficiency. The payments solution has also been honoured by The Banker magazine with the prestigious 2007 Cash Management / Treasury Technology Award. The Banker selected QUARTZ Payments — recently rebranded as TCS BaNCS Payments - based on its advanced architecture, innovative integration features and ability to provide one of Europe's largest banks with a unified payments infrastructure that included TARGET2 and SEPA compliant functions and capabilities.

This innovative platform highlights TCS Financial Solutions' growing commitment to deliver advanced software solutions for banking customers throughout the world.

"By producing sophisticated software solutions that improve operational efficiency and drive revenue growth, we continue to deliver product superiority to the world's leading financial institutions," stated N G Subramaniam, president of TCS Financial Solutions.

"The Banker Technology Awards were established to recognise excellence in banking technology innovation and TCS Financial Solutions is proud to be honored with The Banker magazines Technology Award in Cash Management / Treasury. The focus of TCS BaNCS Payments product is to deliver an integrated solution which assists leading banks such as Société Générale to consolidate back office operations and provide a uniform customer experience across multiple geographies," Subramaniam added.

"Collectively, TCS Financial Solutions and Société Générale have successfully built a multi-country, multi-currency European payments platform," commented T Roehm, head of Société Générale Corporate Cash Management. "The committed efforts of both Société Générale and TCS Financial Solutions have provided the bank with a unified European payment offering that consolidates corporate cash activities across Switzerland, the United Kingdom, Spain, Germany and the wider European region. This payments platform provides better quality of service for our customers and assists our bank to rapidly adapt to changing market conditions."