MUMBAI, India, Jan. 28, 2013 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been designated as a Leader and 2012 Star Performer in capital markets application outsourcing (AO) by the Everest Group, an advisory and research firm on global services, in its December 2012 report, Application Outsourcing (AO) in Capital Markets: PEAK Provider Landscape – Need for Speed: Capturing the Capital Markets Momentum. Among the attributes that earned TCS the prominent position are its strong customer base, partnerships with capital markets technology vendors, extensive portfolio of proprietary solutions for capital markets AO delivery and the capital markets related modules of TCS BaNCS.
In this report, Everest Group analyzed the capabilities of twenty leading AO service providers in the global markets sector. The providers were examined through the lens of Everest Group's PEAK (Performance, Experience, Ability, Knowledge) Matrix, a composite index of distinct metrics related to each provider's capability and market success. Leaders exhibit top quartile performance across market success (transaction activity) and capability (scale, scope, domain investments, and delivery footprint). The Star Performer designation is awarded to providers with the strongest forward movement over time.
TCS' position as a Leader is a reflection of the strength of its universal financial services platform BaNCS and other proprietary solutions, the enhancements it has made to its suite of data management tools, including those for data cleansing, data generation, data migration solutions and data-masking, as well as its capital markets product implementation and market infrastructure partnerships. Further attributes that contributed to TCS' position as a leader include its continued growth in scale – over 20% in capital markets AO revenue year on year – and breadth of areas served within the capital markets domain, including depository, custody, reconciliation, investment banking, risk and compliance, wealth management and clearing, among others.