Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that Investec India, part of the global wealth management giant Investec, has gone live on TCS BaNCS to power its front and back office operations in India. The high speed implementation was completed in a record span of 9 weeks enabling Investec India to setup a green field institutional broking operations in India.
Investec India had planned to expand its securities business in India and setup a full-fledged broking and sales trading activity. To achieve this, they needed a technology partner that not only had a well-established solution that covers all aspects of institutional brokering in India but also delivers in quick time and at a low cost of ownership. Investec was looking for a vendor who acts as a partner rather than a pure product supplier and a platform that could support its future functional and technical requirements.
Over and above the benefit of a fast time to market, Investec now has in place, a comprehensive integrated front to back office institutional broking solution. The solution is providing a low latency, high execution capability at a low operational cost and is also ready for algorithmic trading. The implementation of TCS BaNCS also demonstrates the solution's readiness and configurability required for a dynamic market.
Robin Browning, COO, Investec UK, said, "TCS’ ability to deploy such an advanced brokerage solution in quick time is largely due to TCS’ long experience in delivering such solutions for the Indian brokerage industry. TCS’ understanding of the Indian securities brokerage industry has enabled us to get off the starting blocks fast; we went live in ¾ of the time normally required for a complex front and back office technology implementation".
Commenting on the deployment of TCS BaNCS, Bharat Shah, Principal Consultant, TCS, said, "We are pleased to partner with Investec. TCS BaNCS latest technology will greatly benefit Investec’s current and long term needs by providing an integrated front to back office solution. Having deployed the best brokerage solution we are confident that Investec business will set new standards in the Indian Capital markets."
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