Source Name: Tata Consultancy Services Ltd.

TCS Recognised as a Leader in European Banking and Capital Markets Application Outsourcing Services

Everest Group reports recognise TCS’ scale, scope and domain investments in the banking and capital markets IT outsourcing segment

Feb 17, 2015 16:08 IST

Mumbai, Maharashtra, India; London, United Kingdom

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation, today announced that it has been recognised as a Leader in banking and capital markets Application Outsourcing Services (AO) in Europe by leading advisory and research firm Everest Group in two reports; Everest Group PEAK Matrix: European Banking IT Outsourcing Service Providers’ Assessment 2014 and Everest Group PEAK Matrix: European Capital Markets IT Outsourcing Service Providers’ Assessment 2014.

TCS helps businesses operating in capital markets and banking industries optimise investments, enhance operational efficiencies, minimise risk and maintain competitive pricing. In both its banking and capital markets IT outsourcing reports, Everest Group praised TCS’ scale, scope and domain investments, which were recognised as a major contributor to the company’s success.

Jimit Arora, Vice President, Everest Group, commented: “The European banking industry has seen a strong return in discretionary spending in areas such as application development for customer centricity, digital technologies, and regulatory compliance. Demand for IT outsourcing grew within capital markets in Europe as firms leveraged technology for regulatory compliance, to cut costs and drive efficiency. TCS’ Leader position reflects its comprehensive offering and ability to deliver effectively for clients.”

Susheel Vasudevan, Head Banking and Financial Services, TCS, commented: “It feels special to be once again recognised as a ‘Leader’ in European Banking and Capital Markets Application Outsourcing Services by Everest Group. This recognition highlights the strong market success and continued domain investments we have made in the financial services industry. We work closely with our financial services customers, helping them to drive efficiencies and embrace the changes required in this new digital era.”

The Everest Group evaluated 20 vendors for its banking IT outsourcing report and 18 for its capital markets IT outsourcing report. The vendors were mapped against Everest Group’s Performance, Experience, Ability, Knowledge (PEAK) Matrix, which is a composite index of several distinct metrics related to a provider’s capabilities and market success. Service providers are then split into three categories: Leaders, Major Contenders and Emerging Players. The Everest Group also profiled the capabilities of these leading service providers in detail, giving a comprehensive overview of their service scope, scale of operations, domain investments, delivery footprints and market success.

About Tata Consultancy Services Ltd. (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 318,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $13.4 billion for year ended March 31, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India.

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