Tata Consultancy Services (TCS) has expanded its partnership with the Standard Bank Group (SBG), the largest custodian in Africa, to centralize and standardise its custody and securities settlement operations in over 15 markets with the TCS BaNCS Global Securities Processing Platform. The bank sought to upgrade its existing platform and leverage next-generation technologies to further streamline its custody and settlement processes and build greater resilience in its operations by having all its critical business operations running in the cloud by 2026.
To plan and execute this technology transformation, one of the largest that the bank had undertaken in the investor services business, SBG turned to TCS as its strategic partner of 25 years. At the core of the transformation was the TCS BaNCS Global Securities Platform to enable real-time settlement, reporting and high-performance services.
The TCS BaNCS Global Securities Platform is a cloud-ready, single, consolidated solution, certified by SWIFT, that comes with comprehensive functionality encompassing the entire capital markets value chain, helping both buy-side and sell-side firms implement robust, error-proof, STP-enabled, highly scalable processes for trade processing, clearing and settlement, custody, portfolio accounting and corporate actions administration.
With the new integrated custody platform, SBG will be able to accelerate the pace of innovation and offer its customers consistent, reliable, efficient, and high-performance services. TCS BaNCS’ rich set of APIs and its modern technology architecture will help the bank connect to the wider financial services ecosystem, allowing it to offer customers new, personalized digital products and services.
Tata Consultancy Services is the flagship company and a part of the Tata Group. It is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.
Today, the stock opened at Rs 3599.90, with a high and low of Rs 3611 and Rs 3560.05, respectively. The stock ended the trading session at Rs 3577.45, down by 0.70%. The stock has a 52-week high of Rs 3633.05 and a 52-week low of Rs 2926. The company has a ROCE of 58.7% and an ROE of 46.9% with a market capitalisation of Rs 13,09,291 crore.
Investors should keep a close eye on this large-cap stock.
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