Report Cites TCS’ Breadth and Depth of Expertise in Banking and Capital Markets and Strong Product Portfolio
Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that it has been recognized as a “Leader” in European Banking and Capital Markets Application Outsourcing (AO) by leading consulting and research firm, Everest Group, in its reports, “PEAK Matrix for European Banking AO Service Providers” and “PEAK Matrix for European Capital Markets AO Service Providers”.
Everest Group recognized TCS for the scale and scope of the company’s offerings in the Banking and Capital Markets sectors, as well as it strong track record of domain investments and ability to deliver innovation, particularly for large banking organisations.
Everest Group evaluated the capabilities of 20 banking AO service providers and 18 capital markets AO service providers in Europe and mapped them on its ‘Performance | Experience | Ability | Knowledge (PEAK) Matrix,’ a composite index of several distinct metrics related to a provider’s capabilities and market success. Everest Group also profiled the capabilities of these leading service providers in detail, including a comprehensive picture of their service scope, scale of operations, domain investments, delivery footprints, and market success.
“Financial institutions in Europe continue to focus on significant transformational agendas given the regulatory environment, high competition, and the customer need for digital solutions,” said Jimit Arora, Vice President, Everest Group. “Deep domain and regulatory expertise, presence in client proximity locations, and country-specific solutions helped TCS strengthen its market position as a Leader for IT Applications Services in the European Banking and Capital Markets sector in 2015.”
“Banking and capital markets businesses within Europe are facing the twin challenge of delivering innovation, while continuing to drive operational efficiencies in a changing regulatory environment,” commented Susheel Vasudevan, TCS Vice President and Head of Banking and Financial Services. “TCS has a great track record of helping our financial services customersmanage these challengesand we are extremely proud to be recognized as a leader in European Banking and Capital Markets AO. We look forward to building on this success through on-going investment in our technology and domain expertise.”