Mizuho Trust & Banking Co, (USA) goes liveon TCS BαNCS Corporate Actions
SIBOS, Hong Kong - 14 September 2009
Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading IT services, consulting, business solutions and outsourcing firm, announced today that TCS BαNCS for Corporate Actions has been implemented at Mizuho Trust & Banking Co. (USA).
Commenting on the platform selection George Ziemer, SVP, Head of Operations said, “In this era of heightened uncertainty, and stringent regulatory environment, managing operational risk is the most pressing challenge for securities processing firms. We are glad to rely on TCS BαNCS for Corporate Actions to extract a unified view from multiple feeds and automate the notification and instruction process with our clients. Our ability to automate corporate actions processing and service our customers is enhanced significantly after this implementation.”
Amit Saxena, Product Head - Capital markets, TCS Financial Solutions said, ”Our promise has always been to simplify the complex challenges faced by our customers through innovative use of technology. We are glad that the implementation at Mizuho was accomplished in a very short time and the product would serve Mizuho well in improving the quality and timeliness of Corporate Action information to its customers. We are keen to deliver more through TCS BαNCS for Corporate Actions which supports event types and market practices for more than 40 financial markets.”
Mizuho Trust & Banking Co. (USA) is part of the Mizuho Financial Group whose home office is located in Tokyo, Japan. The Mizuho Financial Group is one of the largest financial institutions in the world, offering a broad range of financial services including banking, securities, trust and asset management, credit card, private banking services, venture capital through its group companies.