Tata Consultancy Services (TCS) has implemented its core banking software suite ‘TCS BaNCS’ for transformation of the brokerage operations of IDBI Capital. IDBI Capital Market Services (IDBI Capital), IDBI Bank’s financial services arm, has gone operational with the securities trading and processing solution from TCS BaNCS for its online brokerage business. TCS BaNCS implemented its digital trading and processing platform at IDBI Capital, enabling it to expand business by offering new products, enhancing operational efficiency and improving risk management.
IDBI Capital had embarked on a core securities systems transformation programme to exploit the potential of digitization, rationalize its application landscape and simplify its technology infrastructure. Their objectives were to improve customer centricity, support multiple channels and align with digital trading developments/trends.
As part of this transformation project, TCS BaNCS implemented its integrated front-to-back-office brokerage solution, a comprehensive multi-asset, multi-channel solution with centralized risk management, mobile trading using iOS and Android devices, and multiple bank and online depository interfaces.