Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Leader in Everest Group's PEAK Matrix® for Capital Markets Operations Services.
The report highlights TCS' extensive experience and its technology and advisory offerings that have enabled the firm to retain a healthy mix of long-standing investment management and wealth management clients across buyer sizes. It goes on to mention that TCS is deepening market presence in North America, which is the largest buyer geography in the capital markets domain.
According to the report, TCS has extended it TCS BaNCS™ platform for wealth management and wealth advisory to capture the growing demand in this segment. The report also highlights the company's investments in up-and-coming areas such as in T+1 settlement transition for US clients, TCS Quartz for tokenized securities, Smart Bond with blockchain trade processing model, and the ESG toolkit.
It said that TCS is helping capital market firms move towards process automation across KYC, data services, settlements, asset servicing, reconciliations and fund accounting. The report further highlights TCS' balanced mix of onshore and offshore delivery locations providing flexibility to its clients as one of the key strengths.
"The next generation of investors want next-gen services and experiences. To capitalize on this growing demand and successfully navigate market and regulatory changes, capital market firms are moving towards intelligent automation and digital operations powered by emerging technologies," said K Krithivasan, CEO Designate and President, Banking, Financial Services, and Insurance, TCS. "This recognition as a Leader reflects the industry-leading capabilities TCS brings to lead capital market firms on a journey towards limitless growth."
TCS offers a comprehensive portfolio of services catering to all stakeholders in the enterprise, across every segment of the capital markets domain. Its services cover all functions spanning the front, middle and back office of the enterprise and support all asset classes including equities, fixed income, derivatives, foreign exchange and money markets:
Front Office: Research and analytics, channel management support, para planning for wealth management customers.
Middle Office: Post trade processes including trade support, trade affirmation / confirmation, pricing and valuation, collateral management and portfolio accounting and reconciliations.
Back Office: Settlements, reconciliation, fails management, core fund services activities like fund accounting, fund administration and transfer agency.
TCS has made steady investments and developed frameworks, point solutions and digital tools that cater to both buy- and sell-side firms, market infrastructure firms and custodians, helping them gain efficiency, collaborate effectively with the ecosystem, and enhance customer experience.
TCS has leveraged its technology expertise, intellectual property, and operations domain knowledge to execute a variety of capital markets processesin a Business Process-as-a-Service model. These offerings cover key business areas like end-to-end security services, corporate actions processing, wealth and retiree payment services, reconciliation, KYC, and transfer agency. These combined with cognitive tools such as a chatbot conversation suite for wealth advisory, smart concierge suite, video messaging for wealth advisory, ESG toolkit for asset, wealth and investment firms, TCS Intelligent Digital Extraction Suite for digital extractions for both annuity and point-in-time demand opportunities help it deliver transformation-led operations.
"With the capital markets industry rapidly evolving, buy- and sell-side enterprises have stipulated their own set of priorities to scale operations and optimize costs," observed Dheeraj Maken, Practice Director, Everest Group. "By identifying typical enterprise needs, TCS has been able to forge contractual relationships with some of the large banks. Extension of its BaNCS platform for wealth management and strategic investments in emerging technologies such as tokenized securities, blockchain trade processing, and ESG toolkits further enhance its ability to deliver value to clients. As a result of its continued efforts, TCS has been recognized as a Leader in Everest Group's Capital Markets Operations PEAK Matrix® Assessment 2023."
"With our extensive domain knowledge, investments in innovation, an advisory-led approach and transformational frameworks, TCS is helping capital market firms discover new opportunities in a boundaryless ecosystem," added K Krithivasan.
Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3104.45 as compared to the previous close of Rs. 3088.70. The total number of shares traded during the day was 76175 in over 6102 trades.
The stock hit an intraday high of Rs. 3112.95 and intraday low of 3079.00. The net turnover during the day was Rs. 235829727.00.