Tata Consultancy Services a leading global IT services and consulting firm, announced that TCS B?NCS Core Banking has been ranked as the leading core banking solution in China based on its performance in the year 2008 by IDC, a leading provider of global IT research. This is the third year in a row that TCS has been ranked at the top of solutions providers for the financial services industry in China.
An IDC report, “China Banking Industry IT Solutions 2009-2013 Forecast and Analysis?, July 2009, evaluated all China focused IT solution providers based on revenue and market share for 2008. IDC commented TCS has maintained its momentum and the leading position due to engagements with Huaxia Bank and Bank of Hangzhou.
The report highlights TCS? robust portfolio of business solutions across a range of key segments. In addition to garnering the top slot Core Banking Solution and the second largest business solution provider position in China, TCS B?NCS has been recognized as the second largest Payment and Settlement solution provider, the third largest channel management solution provider as well as the fifth largest channel solutions provider in China.
?New customer wins on a periodic basis have been central to TCS? success as a Leader in this region? said Serena Shang, Senior Analyst, IDC China. TCS BaNCS? capability to scale and address a wide range of financial institutions coupled with their global track record is an attractive proposition. They can consolidate their initial learnings to make faster progress in perhaps one of the toughest markets in the world.?
N.Ganapathy Subramaniam, President, TCS Financial Solutions said ?Our promise of Experience Certainty to customers is a global commitment that addresses business problems, even in markets where language can be a significant barrier. Our momentum in China is a clear expression of our unflagging focus. We look forward to more clients leveraging our comprehensive portfolio of products and solutions.?
Girija Pande, Executive Vice President and Head, TCS Asia Pacific, said ?China, with its unique dynamics and size offers unparalleled opportunities as well as challenges. In addition to a compelling solution footprint, our track record of serving large global customers has enabled us to foray successfully. This ranking augurs well as we bring competitive advantage to our customers through smart use of technology.?