TCS BaNCS Corporate Actions and TCS BaNCS Custody, formerly branded NCS Corporate Actions and Custody, recently were certified as SWIFTReady Gold Corporate Actions and SWIFTReady Gold Securities Settlement respectively for 2007.
The TCS BaNCS products are produced by TCS Financial Solutions, a business unit of Tata Consultancy Services, provider of business applications for banking, insurance and capital markets industries.
The SWIFTReady Gold accreditation is only awarded to applications that specifically adhere to the set of criteria linked to the support of SWIFT messages, connectivity and SWIFT functionality. There is a stringent and specific criterion for each SWIFTReady accreditation. These criteria are designed to reflect the capability of an application to continuously innovate and provide automation in a SWIFT environment.
This May 2007 certification was awarded to TCS BaNCS Corporate Actions for the second consecutive year and TCS BaNCS Custody for the fifth consecutive year. SWIFTReady Gold certifications underscore the market acceptance and customer traction for both products.
TCS BaNCS Corporate Actions and TCS BaNCS Custody have had significant wins in the last six months including an international depository in Europe, a leading custodian and a major financial institution in Asia Pacific as well as broker-dealers and asset managers in North America and Europe.
“SWIFTReady Gold accreditation for TCS BaNCS products in the corporate actions and global custody markets are testimony of our continuing commitment to follow best practices and increase the products’ capabilities to maximize straight through processing. SWIFT certifications help reaffirm the confidence shown by our clients in our products and further establishes TCS Financial Solutions standing as a leading partner of choice by financial institutions from around the world,” says N.G. Subramaniam, president, TCS Financial Solutions.
Herv Valentin, partner solutions manager at SWIFT, says, “We are pleased to accredit TCS Financial Solutions with these awards to their flagship software solutions TCS BaNCS Custody and TCS BaNCS Corporate Actions. The award renewal for 2007 demonstrates TCS Financial Solutions’ ongoing contribution to the industry, improving both Securities Settlement and Corporate Actions processing for the benefit of financial institutions worldwide.”