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Tata Consultancy Services - Transforming Core Banking Services
Vendor Analysis
published on Sep 25, 2024
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Report Overview:
This NelsonHall vendor assessment analyzes Tata Consultancy Services' offerings and capabilities in core banking services
Who is this Report for:
NelsonHall’s ‘Transforming Core Banking Services’ profile on Tata Consultancy Services is a comprehensive assessment of Tata Consultancy Services’ offerings and capabilities for the core banking sector, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of technology and operational services and identifying vendor suitability for core banking services in RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Tata Consultancy Services’ BFS-focused core banking service offerings and capabilities and market and financial strength, including:
- Identification of the company’s strategy, offerings, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and TCS service components
- Analysis of the company’s delivery organization including the location of delivery centers.
Key Findings & Highlights:
Tata Consultancy Services (TCS) has provided services to the banking sector for five decades. The financial services sector is TCS’ largest industry sector, accounting for 37% of revenues in its most recent quarter, which ended March 31, 2024. Many of its banking clients run mainframe environments, which they are trying to modernize. TCS works with all major core banking platforms. Its proprietary core banking platform, TCS BaNCS, has over 500 installations of one or more modules. The TCS BaNCS core banking platform has payment, lending, deposits, accounts, transaction banking, treasury, reconciliations, and risk management modules.
TCS’ BFS business supports clients looking to transform their legacy systems and processes into modern systems and processes. TCS typically delivers multi-year platform transformations in multiple stages.