Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

TCS Positioned as a Leader in Financial Crime and Compliance Operations Services by Everest Group

Posted On: 2019-12-09 12:05:23


Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Leader in the Everest Group PEAK Matrix™ for Financial Crime and Compliance (FCC) Operations Services1. TCS received this recognition for the second year in a row.

According to the report, TCS is among the top three FCC operations service providers by revenue and dominates areas such as Know Your Customer (KYC), Anti-money Laundering (AML), and chargeback processes. It highlighted TCS' technology offerings, domain capabilities and its investment in blockchain solutions and industry-specific cloud solutions, which have a huge use case in areas like KYC and AML. The company's recently developed Enterprise Regulatory Compliance Management Framework that offers an end-to-end approach to streamline compliance activities, was cited as a strength. Additionally, the report makes a special mention of TCS' work in integrating its FCC operations offering with its consulting capabilities to help its customers transform, enhance and augment FCC operations.

"With emerging business models, increasing regulatory scrutiny, and the creation of new digital channels, banks are leveraging innovative technologies such as AI and machine learning to prevent and combat financial crime," said K Krithivasan, Global Head, Banking, Financial Services and Insurance, TCS. "This recognition from an independent third-party research firm is a validation of our vision and capabilities, investments in innovation, and the resultant market impact."

With extensive experience partnering with some of the world's largest banks, TCS has built unparalleled expertise in financial crime and compliance services across KYC (risk profiling, due diligence, screening, client outreach, off-boarding), AML (transaction monitoring, sanctions screening, trade AML) and anti-fraud operations (cybercrime). TCS' comprehensive set of services in this domain include consulting, analytics, transformation and technology solutions, platform solutions, and change management services.

TCS works with over 14 of the top tier global banks, including the top three banking and financial services providers, a leading European multinational bank, a large global bank, and a fortune 500 European financial services provider.

"The increasing sophistication and complexity of financial crimes is pushing banks to explore new digital interventions to combat financial crimes and to maintain regulatory compliance," added Manu Aggarwal, Vice President, Everest Group. "With a strong domain knowledge of the FCC and a consulting-led approach, TCS seeks to support banks and financial institutions in making their operations more efficient by blending elements of automation, AI, and advanced analytics."

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2122.95 as compared to the previous close of Rs. 2121.5. The total number of shares traded during the day was 184863 in over 5191 trades.

The stock hit an intraday high of Rs. 2130 and intraday low of 2101. The net turnover during the day was Rs. 391025613.

1 Financial Crime and Compliance (FCC) Operations Services PEAK Matrix™ Assessment and Service Provider Landscape 2020, Manu Aggarwal, Robin Jain, Akanksha Pathak, Everest Group, October 3, 2019


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Aarti Drugs Ltd board fixes Oct 1, 2020 as record date for bonus issue

Mphasis Ltd board to consider Q2 results on Oct 22, 2020

Acuite Rating assigns credit rating to Eros International Media Limited

HSIL Ltd Board approves Buy back of equity shares through market purchase

TCS receives Three Brandon Hall Awards for Talent Management & Excellence in Learning

ICRA reaffirms credit rating for enhanced debt limits of The Ramco Cements Ltd

Shree Renuka Sugars Ltd board allots shares to Wilmar Sugar Holdings Pte Ltd

Karda Constructions Limited commences construction work of Destination One Mall

Singoli-Bhatwari Hydel Power Plant, Uttarakhand - Spinning of Turbines commences today

Shankar Lal Rampal Dye-Chem Ltd board recommends 1:3 bonus issue

Canara Bank board to consider raising capital through QIP

Amrutanjan is Official Pain Relief Partner-Digital for Chennai Super Kings

Camlin Fine Sciences Limited commences commercial production at Dahej unit

RITES Ltd bags Railway Electrification project of Rs. 474.92 crore

SBI Card collaborates with Google to enable cardholders to make payments through Google Pay

TCS' Blockchain Product Quartz™ is now available on Microsoft Azure

Ramco Systems signs agreement with CHI Aviation

Steel Strips Wheels Ltd receives export orders of nearly 10000 wheels

Saregama launches Carvaan Malayalam with 5000 pre-loaded evergreen Malayalam song and Carnatic music

Momentive Quartz Technologies (MQT) Selects Kellton Tech to Implement SAP S/4HANA

HCL Technologies announces intent to acquire leading Australian IT Solutions Company, DWS Limited

GOCL Corporation Limited's UK subsidiary to sell partial stake in Quaker Houghton for $35 mn

Sonata Launches 'CSK 2020 Edition' for Chennai Superkings Fans

Universal Cables Ltd updates on capacity expansion

Innovators Facade Systems Limited receives work order of Rs. 26 crores

MRPL shareholders approve proposal to raise funds of Rs. 5000 crore

ITC Ltd increases stake in Delectable Technologies Pvt Ltd

PNB associate bank, JSC Tengri Bank's License revoked

ITC Ltd.'s Sunfeast YiPPee!'s 10th Anniversary celebrations make a GUINNESS WORLD RECORDS® achievement

RITES Ltd board approves buy back through tender offer at Rs. 265

Route Mobile Limited shares to list on Monday - Sep 21, 2020

Mysore Petro Chemicals Limited to write-off GBP 770,000

Somany Ceramics adds a dash of style at T2, Mumbai Airport.

United Spirits Ltd announces resignation of CFO

Lords Chloro Alkali Ltd posts loss of Rs. 1.08 crore in Q1FY21

Zydus Cadila receives final approval from USFDA for Potassium Chloride Extended-Release Tablets

ICRA upgrades rating of Escorts Ltd

Bhatia Mobile to Migrate to main board of BSE

Avantel Ltd receives order of Rs. 15.97 crore from Bharat Electronics Ltd

Magna Electro Castings Ltd board approves buy back at Rs. 175

TATA Tea Chakra Gold Becomes Official Tea Partner for Chennai Super Kings in IPL 2020

Tiger Logistics India Limited provides future Business Outlook

Dr. Reddy's Laboratories announces settlement of U.S. Revlimid® Capsules patent litigation with Celgene

TVS Motor Company expands and strengthens its presence in Colombia

ICICI Securities successfully closes ~INR 6,000 mm IPO of Route Mobile Limited

EIH Limited approves rights issue, fixes Sep 23, 2020 as record date

Hindalco and Hindustan Copper sign MoU for supply of copper concentrate

Kilpest India Limited to merge subsidiary with itself, change name as 3B BlackBio Dx Ltd

Sterling and Wilson Solar Limited Signs order of 106.71 MW worth USD 62.6 mn in Chile

South Korea donates One lakh masks to TVS Motor Company for free distribution to aid India's fight against COVID-19







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019