TCS BαNCS sets new targets for STP exceeding B.I.S.S. Benchmarking expectations

16 September 2008

B.I.S.S. Research, the exclusive research company offering a unique benchmarking of services and systems in the financial services sector, today announced TCS BαNCS has achieved the B.I.S.S. 2008 Corporate Actions Accreditation in all three market sectors of Asset Manager, Broker/Dealer and Custodian.

Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said “TCS Financial Solutions are one of the world’s leading companies and it’s no surprise that they have produced a software system that is truly world class. Our benchmarking assessments over the past 6 years have evidenced the ongoing development and advancement of TCS BαNCS into a comprehensive system offering support in corporate actions, which has set new targets in STP and operational efficiencies.

This year’s benchmarking was searching for value added functionality and services offered by the vendor and how the corporate action system can assist in the compliance with MiFID and bring added values to asset servicing for the investing client.

The benchmarking report describes TCS BαNCS as a system with an extensive range of modules that together produce STP in the corporate actions department. As the modules can be assembled in any combination it offers their customers the opportunity to build incrementally a corporate actions solution. This modular approach also gives the opportunity for all types and sizes of firm to gain similar technological benefits as some of the world’s leading investment banks. The scalability and flexibility within TCS BαNCS is truly unmatched.

We are extremely pleased that TCS BαNCS has once again gained the B.I.S.S. Accreditation and firmly believe that future years will see this system evolve further and pass new milestones.”

N. Ganapathy Subramaniam, President TCS Financial Solutions said “We are pleased that TCS BαNCS has surpassed industry expectations during the B.I.S.S. benchmarking process, as it has been our original vision of offering unparalleled, functionally extensive products to solve deep business problems of our customers.”

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