TCS BaNCS Named a Leader in Wealth Management by Everest Group
TCS BaNCS Nameda Leader inWealth Management by Everest Group
Tata Consultancy Services’Advisory Capabilities, the Solution’s Flexible Deployment Options, and Well-Established Ecosystem of Technology Partners, Cited as Key Strengths
NEW YORK | MUMBAI, January16,2023:Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), announced that TCS BaNCS™has been recognized asa Leader in Everest Group’s PEAK Matrix® for Wealth Management Products.
The report profiles 16 software providers catering to the wealth management value chain, targeting a range of investors from ultra/high net worth to corporate, mass affluent, non-profit, and family offices, for a distinct set of metrics related to overall vision, solution capabilities and market impact.
The report cites TCS’advisory capabilities specific to all segments along with its excellent execution capabilities, as a key strength. It highlightsthat TCS BaNCS’integration capabilities in a homogeneous platform architecture, enable smooth operations. It goes on to say that the end-to-end offering can be deployed in a BPaaS construct, demonstrating flexible and easy deployment modes.Cited as a key strength is TCS BaNCS’well-established ecosystem of technology partners that helpsit enhance operational and technical capabilities.
“TCS has been investing in wealth technology with the objectives of helping innovate advisors’ practices and building a superior digital customer experience across the entire wealth management spectrum, including mass market and affluent segments that are growing rapidly,” said Venkateshwaran Srinivasan, Global Head,Financial Solutions,TCS. “Our leadership positionin this reportreflectsour focus on building capabilities that cater to the new age demands of wealth management across a variety of customer segments, giving customers the flexibility to select the solutions they need via a deployment mode of their choice.”
TCS BaNCS’ comprehensive suite of services encompassing wealth and asset management,provide a breadth of capabilities across advisory services, portfolio management and execution, fund accounting, valuation, clearing, making it a comprehensive, tailored proposition for wealth management institutions.
The solution’s SaaS based approach and cloud-native architecture have helped financial institutions scale globally and enhance their footprint. Its zero touch, low code approach and usage of a range of cognitive technologiesare helpingadvisorsmake the right recommendations to their clients, combat fraud and protect data.
“Focused investments in developing an end-to-end solution, robust integration capabilities in a homogenous platform architecture, and offerings for advisory solutions catering to all segments has helped TCS BaNCS in improving the value proposition for wealth management clients,” said Kriti Gupta, Practice Director, Everest Group. “Dedicated focus on expanding its ecosystem of technology partners thereby enhancing its capabilities and offerings suite has enabled TCS BaNCS secure a positioning as a Leader in Everest Group’s Wealth Management Products PEAK Matrix® Assessment 2022.”