Report Cites Tata Consultancy Services’ Domain Expertise, Robust Solution Portfolio and Proactive Development of New Use Cases Leveraging Digital Technologies as Key Strengths
NEW YORK |MUMBAI, March 28, 2018: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, today announced that TCS has been recognized as a Leader in the inaugural Everest Group report, Service Provider Landscape with PEAK Matrix™ Assessment 2017 for Risk & Regulatory Compliance Application Services in BFS.
“Rapidly changing business models in a Business 4.0 world, increasing regulatory rigor and emerging risk types require banks to digitally transform their risk management capability to manage risks proactively. TCS’ Banking and Financial Services Risk Management practice focuses on continuously tracking trends and market changes, and developing solutions in response to the transformational needs of the banks,” said K Krithivasan, President, Banking, Financial Services and Insurance, at TCS. “This recognition is a testimony to our differentiated capabilities across risk and compliance and the value we bring to our clients’ digital transformation initiatives.”
With over four decades of experience working with the world’s leading banks and financial institutions, TCS offers a comprehensive portfolio of domain-focused processes, frameworks, and solutions that empower organizations to respond to market changes quickly, manage customer relationships profitably, and stay ahead of competition. Customers have embraced these offerings across the world, making TCS one of the largest technology service provider in the banking and financial services industry vertical.
In the area of risk management, TCS has leveraged its strong contextual knowledge of customers’ business landscape and deep domain expertise to develop innovative digital and data science powered solutions. TCS’ domain experts work towards enhancing customers’ risk management capabilities using three transformational pillars that leverage digital technologies to strengthen regulatory supervisory obligations and optimize the cost of compliance:
“The BFS industry is grappling with challenges such as emerging risks, new regulations, financial crime, and high compliance costs, which are forcing enterprises to move away from a checklist compliance mindset to configurable solutions with built-in intelligence,” said Ronak Doshi, Practice Director, Everest Group. “TCS’ wide solutions portfolio catering to the entire risk and compliance value-chain; extensive leverage of next-generation technologies to pro-actively built PoCs in the areas of KYC, AML, and cybersecurity; and domain-focused investments into partnerships to expand capabilities in the areas of data discovery and cognitive analytics helped TCS positioned as a Leader in our inaugural Services PEAK MatrixTM assessment on Risk and Regulatory Compliance Application Services in BFS.”
“Our depth in the risk management and regulatory compliance domain of the banking and financial service vertical and our ability to build bespoke solutions that leverage our contextual knowledge of the customer’s risk requirements and the power of next generation technologies like big data analytics, cognitive computing, and block chain, have made us the preferred partner for large institutions looking to transform their risk and compliance programs,” added Krithivasan.
To view the full TCS Leader position profile in Risk & Regulatory Compliance Application Services for Banking and Financial Services by Everest Group, click here.
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