Tata Consultancy Services announced that the BANCS core-banking solution of its wholly-owned subsidiary Financial Network Services has been awarded the top position in the 2006 International Banking Systems Sales League Table for private and retail banking. In addition, QUARTZÂ®, was ranked equal third in the IBS sales league table for wholesale.
The 2006 IBS Sales League Table was released by IBS Publishing in London on March 1, 2007. Established in 1991, IBS publishes the sales league table, news, case studies and analysis focusing on wholesale banking, retail banking, private banking and trade finance back office systems.
FNS/TCS signed 12 new customers for retail and private banking in 2006, the largest being the Bank of China. BANCS now has 78 active customers with 115 live sites in operation. QUARTZ signed 13 new name customers in 2006 totalling to 55 customers with 50 live sites in operation.
N G Subramaniam, Head of Banking Practice at Tata Consultancy Services, said, âWe see tremendous traction in the market place for BANCS and QUARTZÂ®. Our integrated product portfolio now covers both the Retail/Commercial Banking and Capital Markets. With multi-market functional coverage, a scalable future proof architecture coupled with our System Integration capabilities, our customers experience certainty in terms of achieving their goals and business objectives. Topping the IBS rankings further validates TCS commitment to this business and the Banking & Financial Services industry.â