Tata Consultancy Services is being awarded the 2006 SWIFTReady label for its NCS Corporate Actions automation software.
NCS Corporate Actions aims to enable straight-through processing (STP) for asset managers, broker-dealers, custodians and depositories. NCS Corporate Actions has been implemented in 35 financial markets across North America, Europe, Africa, Australia and Asia Pacific. At present it has been implemented by DTCC, Bank of New York, Standard Chartered Bank, BNP Paribas, ANZ, and the Canadian Depository for Securities.
SWIFTReady says that their accreditation requires broad compliance with global market practice guidelines.
“We are extremely pleased with the continued commitment from TCS to deliver straight-through processing solutions to the corporate actions business of our mutual customers through their NCS Corporate Actions product,” says Philippe Lecomte, the Manager of Partner Solutions at SWIFT.
“We believe that full SWIFT readiness will become a necessity for corporate actions automation software in the future,” adds N. G. Subramaniam, the Vice President and head of banking industry practice at TCS. “Over the last several months we have successfully implemented NCS at some large institutions and are pleased with the traction we are getting among our customers and prospects. The SWIFTReady label is a confirmation of the positive feedback that we continue to receive from our NCS customers.”
NCS has received the SWIFTReady Securities Settlement accreditation for four consecutive years.