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TCS expands partnership with Standard Bank Group

25 Sep 2023 Evaluate

Tata Consultancy Services (TCS) has expanded its partnership with the Standard Bank Group (SBG), the largest custodian in Africa, to centralize and standardize its custody and securities settlement operations in over 15 markets with the TCS BaNCS Global Securities Processing Platform. The bank sought to upgrade its existing platform and leverage next-generation technologies to further streamline its custody and settlement processes and build greater resilience in its operations by having all its critical business operations running in the cloud by 2026.

To plan and execute this technology transformation, one of the largest that the bank had undertaken in the investor services business, SBG turned to TCS its strategic partner of 25-years. At the core of the transformation was the TCS BaNCS Global Securities Platform to enable real-time settlement, reporting and high-performance services. The TCS BaNCS Global Securities Platform is a cloud-ready, single, consolidated solution, certified by SWIFT, that comes with comprehensive functionality encompassing the entire capital markets value chain, helping both buy-side and sell-side firms implement robust, error-proof, STP-enabled, highly scalable processes for trade processing, clearing and settlement, custody, portfolio accounting and corporate actions administration.

With the new integrated custody platform, SBG will be able to accelerate the pace of innovation and offer its customers consistent, reliable, efficient, and high-performance services. TCS BaNCS’ rich set of APIs and its modern technology architecture will help the bank connect to the wider financial services ecosystem, allowing it to offer customers new, personalized digital products and services. The platform improves straight through processing levels and helps the bank leverage a data standardization strategy that can accommodate both traditional and crypto assets, while also making the adoption of ISO20022 easier. The platform has been deployed in seven markets including in South Africa, the others will be implemented by March 2024.

TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.


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2581.65 4.55 (0.18%)
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