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Girijesh Agarwal
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Back to all TCS Financial Solutions announcements

TCS Launches Dedicated BFS Solution Center

- Full Service Player - providing global consulting, IT solutions & services, BPO, infrastructure services and asset-based offerings

- Comprehensive solutions that embed technology, domain expertise and solution accelerators

- Serving Marquee banking and Wall Street customers

- Innovation and Knowledge Management as growth engines

Tata Consultancy Services announced the launch of its Banking and Financial Services Solution Center (BFSSC) at Chennai.
Coming as part of the series of strategic moves, the consolidation of Banking and Financial Services is designed to provide market advantage to its clients through highly integrated IT and business solutions. The exclusive focus on BFS from this center would help TCS in leveraging the strength of over thirty years of collective experience, reacting faster to the market and regulatory changes, collaborating effectively with internal and external experts, and generating assets in anticipation of market needs.

One of the early successes of this vertical focus has been the development of its highly successful product eClearSettle and implementation of solutions built around this for national depositories in several countries including Kuwait, Dubai, Philippines, Saudi Arabia and Russia. A recent success story closer home is the implementation of core banking system in Indian Bank which consisted of 500 branches roll-out in record time. This remarkable achievement can be attributed to TCS' knowledge of the banking environment, our core strength in providing IT solutions and the ability to understand mission critical areas. Our JPMC Migration Project was awarded the "Highly commended status" in the core banking systems project category by The Banker - an award instituted by the UK-based Banker magazine and Financial Times group in recognition of the best of breed innovation and success in financial technology.

On the back of such key wins, as well as TCS' strategic acquisitions and large, multi-year outsourcing deals, the BFS Center is well poised to contribute to the organization's strong growth rates in the market place. On our list of clients are Fortune 500 and well known names like, Citigroup, Deutsche Boerse, Dubai International Financial Exchange, JP Morgan Chase, Kuwait Clearing Company, Lehman Brothers, Sega InterSettle, Standard Chartered Bank, The Depository Trust Corporation (US), National Depository Center (Russia), Saudi Stock Exchange and Visa. There are more than 3200 associates who specialize in providing IT services to these clients in Chennai.

This model of IT with strong domain focus enables capability creation and competency enrichment to create a pool of techno functional specialists who deliver business advantage to clients. Towards this, TCS is continuously fine tuning its approach towards Knowledge Management, Innovation and Leadership while strengthening the verticalization drive. Knowledge Management is enabled through a dedicated portal, knowledge sharing sessions and frequent industry interaction programs. Observes Ravi Viswanathan, VP and Head Chennai Operations: "The setting up of the BFSSC in Chennai is yet another definitive step by TCS to engage with clients strategically with great value addition and domain focused offerings. As TCS continues to grow exponentially, the vertical focus of this solution center will address the need to create industry focused solutions and services while giving us an opportunity to streamline internal capabilities to create synergies within our domain offerings."

Located on the city's famed IT corridor, the TCS BFSSC is equipped with state-of-the-art infrastructure and facilities including self-contained secure client-specific modules, Demo Labs, Certification Test Centers, Domain Training Centers and Visioning Center, besides health and recreational facilities for its associates. Operating in 200000 sq. ft premises, the center hosts over 200 projects from about 25 clients.