TCS BaNCS™ Recognized as a Leader in Universal and Pure-play Digital Banking in IBSI Sales League Tables 2020
Mumbai: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced that its flagship product TCS BaNCS™ was ranked among the top two best-selling Universal Banking and Pure-play Digital Banking solutions globally in the IBSI Sales League Tables (SLT) 2020 by UK-based IBS Intelligence. Additionally, TCS led the Investment and Fund Management category and is one of the top two suppliers in the IBSI SLT Leadership Club that recognizes leading systems across all categories, for the Americas, Europe, Middle East and Africa, and Asia-Pacific regions.
The IBS Intelligence Sales League Table is compiled based on verified global sales by technology suppliers to new customers for the defined calendar year and is regarded as the most definitive barometer of measuring sales performance, over the last 18 years. TCS’ leadership ranking is an outcome of widespread customer acceptance of the TCS BaNCS suite, its comprehensive functionality, versatility, extensibility, and its Digital First, Cloud First™ philosophy.
TCS’ digital banking engagements in innovation hubs like Israel and Taiwan, universal banking sales to top-tier banks in Europe, Canada, the Middle East, Asia-Pacific and India, and a slew of wins for TCS BaNCS Cloud, have led to its leading position across these three important categories. Additionally, significant deal wins in the Investment and Fund Management space with leading financial institutions in Europe, the US, UK, Hong Kong and ME, ensured that it retained its Number One spot in this category from last year.
TCS BaNCS’ market success – and consistent leader ranking in the IBS Sales League Table – is on account of its suitability and attractiveness to financial institutions of all types, sizes and across regions. It has been at the core of successful transformation programs at some of the largest banks in the world, as well as at credit unions, community banks and specialized financial institutions. Its future-readiness has led to its adoption by neo and challenger banks as their digital banking platform of choice.
“We believe that in this era of uncertainty, helping our customers build resilience and agility is critical. The TCS BaNCS solution comes with a robust high-performance engine, intelligent core and open banking capabilities that lay the foundation for self-healing, personalization and advanced analytics,” said R Vivekanand, Co-Head, TCS Financial Solutions.”We are delighted to be recognized as a Leader in the Universal Banking and the Investment and Fund Management categories in the IBS Sales League Tables, which is an objective assessment of our market success. Our ranking in the Pure-play Digital Banking category is a reflection of the broad adoption of our product by multiple neo-banks across the globe, driven by our Digital First, Cloud First vision.”
According to the panel that compiled the IBS Sales League Table,“The IBSI Sales League Table (SLT) is compiled based on a strict validation process and hence has always been regarded as the most sought-after platform for banking technology suppliers to showcase their global sales success. This year’s submissions were much higher than before, with over 2,500 deals signed across 150 countries with over 1,700 banks. We are pleased to confirm that TCS BaNCS has recorded a leadership spot in the Universal Banking categories of both the Global and Domestic Leagues Tables in SLT 2020, in addition to retaining its number one spot in the Investment and Fund Management Systems by a large margin, scoring 50% of the deals reported in this category. TCS BaNCS’ #2 ranking in the pure-play digital-only segment validates the industry’s preference to the solution’s offering, in the fast-emerging neo-bank segment.”
TCS BaNCS Cloud for Banking is an integrated digital core banking suite that helps banks and financial institutions offer innovative products and services to customers throughout their life journeys, based on their anticipated requirements and over the devices of their choice. The solution has one of the richest collections of API-enabled components addressing wealth management and retail, corporate and private banking, including digital banking for all segments. It supports a variety of products and services covering assets and liabilities and can fit the business and operating model of a bank with an assured 24x7x365 availability, as evidenced at the 450 sites where it is installed successfully.
TCS BaNCS services more than 25 percent of the global banking population, with two of the largest core banking installations running on TCS BaNCS, processing more than one billion accounts. The capital markets solutions cover 100+ countries, with more than 10 Mn trades settled and serviced on TCS BaNCS daily and have driven transformation in markets worldwide. The insurance solutions service over 20 Mn life, annuity, and pension policies and 135 Mn+ property and casualty solutions worldwide.