TCS Sets Its Eyes On BFSI Pie

Bangalore: | Updated: Dec 24 2002, 05:30am hrs
Software services major Tata Consultancy Services (TCS), as part of its strategy to grow its banking, financial services and insurance (BFSI) business, will increasingly look at leveraging its assets (ie products and software components built in-house) and even branding these components to create a technology independent integrated platform for delivering tailor-made solutions to customers.

Two of its branded components - Quartz (its banking solution) and NCS - network custody and clearing system - built out of this strategy is also expected to contribute significantly to the BFSI business at TCS, which currently accounts for over 40 per cent of its total business.

TCS is all set to ramp up its development centre in Shanghai, China to employ over 150 software professionals by June 2003, to primarily service its GE account, according to TCS regional director APAC Girija P Pande.

Currently this centre has about 24 Chinese software professionals. “GE is expanding its operations in China and we want to ramp up the GE service team at the TCS development centre in Shanghai to keep pace with their work.
Non-GE work will also be ramped up given the growing size of the team,” Mr Pande said. Another new development centre in Chile, is also expected to be operational, shortly.

TCS offers a variety of offerings right from mere solution building to systems integration, managed services and BPO (business process outsourcing).

So we believe that we are uniquely positioned to service global customers and their needs in a growing segment like banking and financial services by offering all the services under one roof, TCS vice-president and head banking industry practice NG Subramaniam told the media.

We also believe that within the services portfolio, certain in-house components and IP can be carved out to create separate brands which can give significant value to customers, Mr Subramaniam added.

TCS has also announced that its Bangalore set-up, which currently employs approximately 2000 developers spread across two facilities will now be transformed into banking innovation centre for TCS banking and financial services practice.

Of the 13,000 TCS professionals working in the BFSI segment, 2000 are located in Bangalore, where the headquarters are. Hence, we expect the Bangalore centre to be a major contributor for the business. Currently, we service large customers out of here including Lehman Brothers, Fidelity, American Express etc, he said.