TCS has announced that it has been ranked second on the FinTech 100, the annual ranking of the top technology vendors that garner more than one-third of their revenue from the financial services industry. Named by American Banker, Bank Technology News and IDC Financial Insights, TCS has held the number two spot on the list for the last three years, while maintaining a top 10 position seven years in a row for this recognition.
“We are extremely honored to be recognized as a top technology provider for the seventh consecutive year in the FinTech 100 ranking,” said K Krithivasan, President, Banking and Financial Services, TCS. “This prestigious designation is the result of our sustained commitment to our customers in the financial services industry and our focused investments on emerging technologies to meet our clients' business needs.”
TCS’ banking, financial services and insurance services (BFSI) represented 43 percent of the company’s overall FY14 revenue and demonstrated an overall growth of 29.35 percent compared to FY13. The BFSI space continues to be an area of extensive growth for TCS as companies look to develop new operating models with a focus on rebuilding profitability, optimizing costs and improving efficiency. Emerging technology trends such as digital, channel, integration, big data, analytics, and social media continue to play a large part in the success of these new operating models.
TCS’ flagship product TCS BaNCS, is a globally acclaimed software brand that enables transformation in financial services through a superior and holistic suite of solutions for banks, capital market firms, insurance companies and other diversified financial institutions. Each solution in the TCS BaNCS family has been designed to fully integrate with existing business models, enterprise infrastructures and technology architectures. Adopted as a platform of choice by major institutions around the world, TCS BaNCS addresses critical industry needs and enables business transformation by providing customers with scalable, customizable, market-ready solutions including Universal Banking, Core Banking, Payments, Compliance, Financial Inclusion and more.