MUMBAI : Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), the largest provider of IT services to the banking, financial services, and insurance (BFSI) industry worldwide, announced that it is now a Microsoft Cloud for Financial Services partner.
TCS will combine its deep industry knowledge and experience as a leading transformation partner for BFSI clients, with its Microsoft Cloud for Financial Services solutions, and its large talent pool of Microsoft-certified consultants to enable clients to innovate, and reimagine their businesses to meet evolving market, customer and regulatory needs.
TCS’ multi-horizon cloud transformation roadmap first entails helping clients build a new future-ready cloud-based digital core that enhances agility and resilience. Subsequently, the company helps them harness cloud-native capabilities around AI, IoT and other technologies to launch new and innovative products and services, create new revenue streams, embrace new business models, create differentiated customer experiences, and drive growth.
Clients can significantly scale up and speed up their innovation initiatives by partnering with TCS and leveraging its co-innovation ecosystem of start-ups and academia. To facilitate ideation, rapid prototyping, and agile development of innovative ideas, TCS has invested in a network of co-innovation hubs called TCS Pace Ports™, spread across Tokyo, Amsterdam, New York, Pittsburgh, and Toronto.
In addition, TCS will make its vast portfolio of cloud-based solutions and accelerators available on Microsoft Azure to help customers gain faster time-to-market and drive superior business outcomes. These include TCS BaNCS™ cloud (SaaS) business solutions for financial services, which are listed on the Azure Marketplace, TCS Digital Mortgage solutions, TCS Environmental, Social, and Governance Insights, and TCS Customer Knowledge platform.
The Microsoft Cloud for Financial Services integrates Microsoft Azure with Microsoft 365, Microsoft Dynamics 365, and Microsoft Power Platform, underpinned by an industry data model, with new capabilities unique to the financial services industry.
“Today, an increasing number of BFSI firms are harnessing the power of cloud to future-proof their businesses, achieve operational excellence and agility to create unmatched experiences,” said K Krithivasan, Business Group Head, Banking, Financial Services, and Insurance, TCS. “We believe this expanded partnership will help our BFSI clients accelerate their transformation agenda with Microsoft Cloud for Financial Services and allow them to achieve greater resilience, adaptability and purpose-led growth.”
“Strategic partners like TCS are instrumental to the scalability of Microsoft Cloud for Financial Services, delivering solutions that help customers realize business transformation,” said Bill Borden, Corporate Vice President, Worldwide Financial Services, Microsoft. “We look forward to continued collaboration with TCS to deliver future-first financial services solutions that enable new business models, create new revenue streams and support differentiated customer experiences.”
This news comes on the heels of TCS’ recent announcement that it is a Microsoft Cloud for Retail partner, delivering intelligent retail solutions to its customers.
TCS’ Microsoft Business Unit works with customers worldwide to accelerate their multi-horizon cloud transformation journeys. The company’s large and growing pool of functional and technical consultants have led some of the biggest IT transformation programs and pioneered technology initiatives for over 100 clients in the financial services industry. TCS is a Microsoft Gold Partner and recently won the 2021 Microsoft Partner of the Year Awards for Azure Intelligent Cloud in France and the Dynamics 365 Field Service in the US. It was also named Microsoft Azure Expert Managed Service Partner for its expertise in delivering the highest quality of service on Azure.