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- Report Cites Tata Consultancy Services' Investments in Solutions/IP, Products, Academic Partnerships, and Co-innovation Efforts, as Key Differentiators and Strengths
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In an assessment of 25 global service providers offering banking application services, TCS was positioned highest for market impact and vision and capability. The report highlights TCS' significant investments in solutions and intellectual property, products, academic partnerships, and co-innovation efforts. The report also noted that customers appreciate TCS' investment in driving scaled Agile adoption.
"Global banks are actively enabling APIs to promote ecosystem play and are increasing the adoption of cloud models in their efforts to achieve digital efficiency and to move towards a completely digital ecosystem," said K Krithivasan, President and Global Head, Banking, Financial Services and Insurance, TCS. "Our recognition as a leader by an independent, third-party research firm, is a testament to our deep understanding of the banking business, extensive digital capabilities and unique delivery approach."
With formidable experience in building and managing a wide range of core systems, TCS has been a trusted transformation partner for many global banks. An end-to-end bouquet of services with full-stakeholder play, enables TCS to design and build innovative and transformational solutions using location-independent Agile methods. TCS' new-age application services include: creating a comprehensive business case, defining the roadmap and operating model to re-architect existing monolithic applications with microservices, designing and building new cloud native systems, evaluating and implementing third-party SaaS/ PaaS options for specific business needs, enabling 24x7 IT support and maintenance, and bolstering IT governance.
"Evolving consumer demands, competition from digital native firms, and a digital talent gap puts stress on banks to execute digital initiatives at speed and scale. To manage these roadblocks, banks need partners who can run business in a cost optimized model, guide banks on their transformation journeys, manage the complexity of the innovation ecosystem, and bring differentiated skills," said
"TCS' comprehensive portfolio of new-age application services combined with our contextual knowledge, intellectual property, location-independent Agile methodology, and investments in innovation are helping banks become future-ready and rapidly move forward in their Business 4.0 journeys," added Krithivasan.
To view TCS' full profile in the Everest Group PEAK Matrix(TM) for Application Services in Global Banking, click here. (https://www.tcs.com/tcs-leader-in-banking-application-services-everest-group)