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TCS Financial Solutions named a Leader in Global Banking Platforms by Independent Research Firm

Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading global IT services and consulting firm, announced today that TCS Financial Solutions was among the select companies that Forrester invited to participate in its January 2009 report, The Forrester Wave: Global Banking Platforms, Q1 2009. In this comprehensive evaluation of the global banking technology landscape, TCS Financial Solutions was named a leader. A significant aspect of this recognition is that this is the first year of participation for TCS Financial Solutions in this exclusive report where only five vendors are invited for participation by Forrester Research.
Forrester evaluated world-leading banking platform products across 108 criteria
Which were classified under three broad areas – Current offering, Strategy and Market presence. Acknowledging the debut of TCS BaNCS in this wave, the report said” TCS FS’ banking platform shows a convincing first-time performance in this Wave evaluation”.

Under the section, TCS Financial Solutions and TCS BαNCS, the report further highlights,"The banking platform scores highest on functional breadth, having no real functional gaps. Overall functional breath can be described by examples such as core banking, channels, wealth management, securities trading and processing, as well as corporate actions. TCS FS also scores highly on product configuration and multichannel enablement and shows a strong architectural approach offering a broad freedom of application infrastructure choice. With regard to proven scalability, TCS BaNCS is second to none. TCS FS’ product strategy receives high scores.”

Commenting on the report, N.Ganapathy Subramaniam, President, TCS Financial Solutions said: “We are delighted at the recognition as a leader. It further reflects our positioning as a functionally rich and technically superior financial platform delivering intuitive customer experience and of course transformation certainty.”