Tata Consultancy Services Moves Up to 3rd Position Among Global Providers of Financial Technology

MUMBAI, India, Oct. 12, 2011 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 523540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been ranked 3rd in the FinTech 100, an annual international listing of the top vertical technology vendors that derive more than one-third of their revenue from the financial services industry as named by American Banker, Bank Technology News and IDC Financial Insights.

For the fifth straight year, TCS has been named in the top 10 on the FinTech100. With approximately 45% of TCS' revenues attributed to banking, financial services and insurance in financial year 2010-11, TCS has climbed up one more spot from last year. The FinTech 100 ranking is categorized and evaluated based on calendar year revenues and the percentage of revenue attributed to financial services.

"TCS' continued improvement and recognition is a reflection of client confidence, not just in our products and services, but in our corporate culture of keeping our customers at the center of our business," said N. Ganapathy Subramaniam, President – TCS Financial Solutions. "As the industry navigates through these challenging economic conditions, TCS remains committed to providing best-in-class services and technology to the financial services industry."

For more information about the rankings, visit www.financial-insights.com/fintech.

To view the FinTech Special report, visit www.AmericanBanker.com/fintech100

About the FinTech 100

The FinTech 100 is American Banker and Bank Technology News' annual ranking of the top technology providers to financial services companies worldwide. The ranking is developed in conjunction with IDC Financial Insights and with public relations support from The William Mills Agency.

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 drives growth, reduces costs, mitigates risk and offers a faster speed-to-market for our clients. With a global customer base of more than 260 institutions operating in over 80 countries, TCS Financial Solutions deliver 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 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, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model (GNDM™), recognised as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 202,500 of the world's best-trained consultants in 42 countries. The company generated consolidated revenues of US $8.2 billion for year ended March 31, 2011 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