Leading Research Firm Names TCS as Leader in Global Banking Platforms Report

MUMBAI, India, Dec. 22, 2010 /PRNewswire/ -- Tata Consultancy Services, (BSE: TCS.BO, NSE: TCS.NS), the leading IT services, business solutions and outsourcing firm, announced that a leading independent research firm Forrester Research, Inc. has named TCS as a leader in the The Forrester Wave™:  Global Banking Platforms Q4 2010 report. TCS was among the select companies that Forrester invited to participate in its 17 December 2010 report.

The report authored by leading analyst Jost Hoppermann said, "TCS defended its position as a leader – After its convincing first- time performance in the last global banking platform Forrester Wave evaluation, TCS with TCS BaNCS is again a leader. TCS BaNCS and its 27 modules score highest in a number of criteria including delivered functionality and supported sub verticals as well as product strategy."

The report further states that "Of all the evaluated vendors, TCS earns the highest marks for product strategy, focusing on strong functionality such as 'Ready Bank' solutions for specific markets such as Australia and the U.S., banking delivery platform as software- as- a service as well as multi-country factoring. Consider TCS BaNCS for your vendor short list if you need strong platform agility, broad supplementary functionality or high business functionality scores."

Commenting on the report, N. Ganapathy Subramaniam, President – TCS Financial Solutions said, "Our fundamental promise of 'Experience Certainty' to our clients stems from a robust product suite and a track record of timely implementations around the world. We are delighted to be named a Leader in this highly credible piece of research."

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best of breed solutions that will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base of more than 240 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services 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 174,000 of the world's best trained IT consultants in 42 countries. The Company generated consolidated revenues of over US $6.3 billion for fiscal year ended 31 March 2010 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com

SOURCE Tata Consultancy Services