TCS ranked 10th leading global provider of financial technology
November 8, 2007

First Indian company to be in the top ten

Tata Consultancy Services (TCS) has been ranked 10th on the FinTech 100, an annual international listing of the top vertical technology providers that derive more than one third of their revenue from the financial services industry as named by American Banker and research firm, Financial Insights, an IDC company. The financial services industry contributed 41.3 per cent of TCS's global revenues in fiscal year 2007.

"Tata Consultancy Services is recognised as having one of the largest and most successful IT services, business solutions and outsourcing practices in the world," said N Ganapathy Subramaniam, president, TCS Financial Solutions. "Our growing list of banking, capital markets and insurance customers continue to derive outstanding benefits from our world class Global Network Delivery Model™, Integrated Quality Management System (iQMS™) and TCS BaNCS award winning business application solutions. This ranking endorses our team's outstanding commitment to advance innovation and reduce the total cost of ownership for the financial services industry. The upward movement from 21st in 2005, 13th in 2006, and now 10th in 2007 highlights our ability to ensure that customers experience certainty in delivery and performance."

"Global sourcing is becoming the norm, extending beyond just IT outsourcing into acquisition of packaged solutions and consultative services. TCS is the only Indian outsourcer to break into the Top 10 of the FinTech 100, indicative of the success this firm has found as financial institutions expand their horizons in their search for technology partners," states Jeanne Capachin, research vice president, global banking and insurance, Financial Insights.

TCS's banking, financial services and insurance practices (BFSI) continue to drive growth through the announcement of a number of landmark deals such as a multimillion dollar end-to-end outsourcing deal for a large UK bank and TCS BaNCS Core Banking solution rollout at Bank of China. The practices are experiencing double digit growth rates thanks to TCS's full services play which continues to attract new customers and repeat business. Especially strong deal flow is being witnessed in China, Europe and Asia Pacific. In May 2007, TCS announced the launch of TCS Financial Solutions, a strategic business unit dedicated to driving business application solution growth in the banking, capital markets and insurance sectors.

For more information about the rankings, visit: www.financial-insights.com/FI/services/fintech100.jsp