December 22, 2014
TCS recognized as a leader in Banking Business Process Outsourcing (BPO) by Everest Group
Report cites TCS’ scale, dominant presence, customer satisfaction and strong analytics capabilities as key strengths
NEW YORK | MUMBAI: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, today announced it has been recognized as a ‘Star Performer’ and ‘Leader’ in Banking BPO by Everest Group in its report, “Banking BPO – Service Provider Landscape with PEAK MatrixTM Assessment 2014,” October2014.
TCS’ positioning as a Leader is a result of its overall composite score on the back of its strong analytics capabilities, coupled with technology enabled services and dominant presence across all banking processes. Its designation as a Star Performer is based on its year-on-year movement on the PEAK Matrix.
The Everest Group report analyzed the relative positioning of 23 service providers using its Performance, Experience, Ability, and Knowledge (PEAK) Matrix for Banking BPO. Everest Group also analyzes service provider capabilities across multiple dimensions, including market success, scale, scope, technology capability, delivery footprint, and client satisfaction. The service providers are divided into three categories based on performance: Leaders, Major Contenders and Emerging Players.
“TCS' positioning as a Leader and Star Performer is a testament to its ability to continuously keep pace with the evolving demands in an increasingly digital and regulated Banking world,” said Rajesh Ranjan, Partner and Head, BPS Research, Everest Group. “Focused offerings in high growth areas such as analytics, risk management, and regulatory compliance underpinned by technology and delivery footprint investments helps it succeed in the market place.”
“It is exciting to again be recognized as a banking ‘Star Performer’ and a ‘Leader’ in by the Everest Group for Banking BPS thanks to our clients acknowledging the value we bring to their operations,” said Abid Ali Neemuchwala, Global Head, Business Process Services at TCS. “TCS partners with global leaders in banking to help them drive their simplification and digital re-imagination journeys. We continue to invest in building the expertise, industry platforms and solution accelerators, and creating innovative value propositions that help banks to accelerate growth, improve their customer experience and manage risks as their transform their business.”
Across the globe, banks are working towards improving customer experience, while managing regulatory pressures and increasing capital demands in a volatile economy. TCS BPS is helping banks achieve these objectives with its operational and technology excellence, and predictive and prescriptive analytics expertise, through utilization of TCS’ FORE™ simplification methodology, Robotic Process Automation framework, cloud platforms, analytics, and TRAPEZE™ solution.