Tata Consultancy Services’ TCS BaNCS™ will Help Standardize and Streamline Processes in Over 100 Markets and Further Enhance Customer Experience
NEW YORK | MUMBAI, September 15, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS),) today announced an expanded strategic alliance with J.P. Morgan’s Securities Services business. The firms are extending their partnership to include TCS BaNCS™ to further enhance the customer experience around corporate actions for J.P. Morgan’s Global Custody clients in over 100 markets.
The real-time, event-driven, multi-market platform will enable J.P. Morgan Securities Services to provide clients with a standardized and streamlined process in each market whilst achieving over 90% straight through processing for mandatory Corporate Actions.
Hannah Elson, Global Head of Custody, J.P. Morgan, said, “We selected TCS BaNCS to assist in further streamlining our corporate actions processing and providing near-real time data to Global Custody clients enabling them to make time-critical investment decisions.”
“Our award-winning solution has been driving market innovation, delivering increased straight through processing and enhancing end client experiences across multiple markets, sources and assets,” said Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS. “The successful adoption at scale of our TCS BaNCS for Corporate Actions solution at a leading custodian like J.P. Morgan is testimony to our solution’s versatility both from a business and a technology standpoint.”
TCS BaNCS for Corporate Actions provides firms with an asset servicing solution implemented at leading CSD’s, custodians, investment banks, fund and asset managers and brokers. 8 of the top 10 custodian firms worldwide and 300 capital market firms run on the TCS BaNCS suite of products. The corporate actions solution is fully ISO15022, ISO20022 and DTCC20022 compliant, with automated end-to-end processing for all types of events and products, including derivatives, across all global markets. TCS BaNCS is also certified with the SWIFT Ready label for Corporate Actions.