2009 Number 7

SEI goes
cover story

Global
New wealth management platform enables 24/7 worldwide service

ALSO IN THIS ISSUE

l SWIFT Asia Pacific
l AMEDA in Egypt
l Opportunity in Corporate Actions
l BAI Retail Delivery Preview
l TCS Research & Development & Technology

2009 Experience certainty. IT Services

Hong Kong
Business Solutions
Visit TCS at Stand 1D20
Outsourcing
 the rewards of
vision,
leadership
and values
by N. Ganapathy Subramaniam, President, TCS Financial Solutions
C
ircumstances have changed in the financial
services industry over the past 12 months,
and there remains a great deal of uncertainty
with regard to asset pricing, regulatory
expectations, consumer spending, commercial activity
of all types and unemployment figures. Financial
institutions built upon TCS BαNCS’ solid foundation can
proceed with the confidence that they possess both the
speed and flexibility to respond to impending changes
and volatile market conditions.
However, being fast and flexible isn’t always enough.
Times like these require essential qualities such as vision,
leadership and strong values. In this month’s cover story
about our highly valued customer SEI, we have a clear
example of all of these qualities in action.
Seven years ago, SEI had an enviable market position
as a provider to private banks, investment advisors,
investment managers, institutional investors  and
affluent individuals in the U.S. However, the company’s
technology solutions were lacking in support for
overseas clients, and the underlying architecture proved
2
to be a barrier to the necessary modifications to make
that support possible. SEI was faced with the difficult
prospect of building a new architecture, virtually from
scratch, that would replicate and exceed SEI’s existing
solution set to support the international market. Given
the uncertainties involved, nobody could say how long
such a project would take, what it would cost, or whether
or not the entire undertaking would be a success.
Yet the company had the vision to press ahead. SEI
embraced the concept of becoming a global company
with a valuable, rare and inimitable combination of
solutions capable of supporting its customers anywhere
in the world. This was a vision supported by strong
points of view about where the market was heading,
the offerings that would be valuable in the future, and
the elements of a solution that would contribute to
competitive advantage.
In pursuing its vision, SEI exhibited the leadership
qualities needed to pursue, refine and realize a success-
ful outcome, and now reaps the benefits of foresight
and planning.
 By definition, leadership involves doing things
The
differently than the rest of the pack. For SEI, the key to
leadership was a willingness to not only offer a new
α
TCS b ncs team
business model to its customers, but also its embrace looks forward to a
of a new service delivery model for software and service successful SIBOS in Hong
development. Within TCS, we worked closely with SEI Kong with our valued
to ensure that the multi-year project’s objectives and customers and partners.
incentives were in alignment, and as a result came up Please visit us at
with an innovative partnership model that blended the Stand 1D20.
line between SEI as a customer and TCS as a service
provider. TCS developers, designers and subject-matter
experts worked on-site with the SEI team to the point
where the two groups became a single, cohesive unit
operating with agility and trust. Unlike traditional
outsourcing deals where interactions can sometimes be
clouded by layers of management and paperwork, the
SEI-TCS partnership involved close working relationships,
open lines of communication, and common values.
Leadership thrives on common values. As a Tata
company, TCS shares the values of its corporate parent.
Tata companies have always believed in returning wealth
to the society they serve, and to also extend social
welfare activities to communities around their industrial
units. Similarly, at SEI, philanthropy and community
involvement is part of the fabric of the company, with
employees at all levels of the company – including TCS
employees – freely getting involved in activities from
local fundraisers to building homes for storm victims in
Mississippi.
As we cope with the many challenges of today, the
best path we can take is to follow our visions, to exercise
bold leadership with careful planning, and to remain
true to our core values. By doing so, we maximize the
iStockphoto

opportunities for success in all of our endeavors.

33
letter from the editor
A
s you may recall, last year’s SIBOS in Vienna was a
breathtaking experience. It took our breath away not
because of its scale and grandeur, but rather because of
the world events taking place that week, from Lehman
Brothers going out of business on the first day of the conference to
more of the same in the days, weeks and months to follow.
Since then, we’ve seen economic turmoil, one or more credit
crises and any number of big banks being absorbed by even bigger
banks (and not always on the most generous of terms). Markets first
swooned, and then tanked and then have miraculously risen again.
And here we find ourselves off to SIBOS in Hong Kong – a most
astute location given the broad recovery in the Asia Pacific markets.
Either despite of – or because of this past year’s pain – the world
economies are on a more solid foundation than in September 2008.
We are collectively more stable and confident about the future. Sure,
a bank is still failing here or there, and consolidation in the vendor
community continues as usual, but those events are a far cry from
last year’s near-failure of a Northern European country.
Here at TCS Financial Solutions, we are gearing up for SIBOS in a
very big way. Our flagship solution suite – TCS BaNCS – is especially
suited to the capital markets and is extremely relevant to the entire
SWIFT community. TCS BaNCS modules run the full gamut of
solutions that a major bank or capital markets firm would need to
run their mission-critical businesses. These would include Corporate
Actions, Securities Trading, Securities Processing, Clearing and
Settlement, Market Infrastructure, Cash Management, Trade Finance,
Payments, Treasury, Asset Management, Institutional Custody, and a
front end Universal Banking solution as well.
You can find us at SIBOS at Stand 1D20 if you care to discuss how
we can address your business and technical requirements and to
4
demo one or more of our offerings. If you are not at SIBOS, just drop
me an email and I can make the right connections to our domain
experts at TCS.
And if you are more interested in other TCS BaNCS banking
solutions – core banking, loan origination, branch front end, Islamic
banking, microfinance, wealth management, and other retail banking
solutions – you can visit us at the BAI Retail Delivery Conference this
year in Boston, November 3-5.
As you may or may not be aware, TCS jumped to over $6 billion in
revenue in the fiscal year ending March 2009. Given that the most
significant portion of that revenue comes from the Financial Services
Industry, TCS BaNCS is proud to be doing its share to impact
both the top and bottom lines of our customers, and in so doing
making them even more competitive on the world stage. TCS is truly
everywhere you need us to be; please let us know how we can be of
service in helping you to experience certainty.
Until next time…
Dennis Roman
Editor-in-Chief
Chief Marketing Officer
TCS Financial Solutions
954 423 3560 office
954 806 6660 cell
Dennis.roman@tcs.com
www.tcs.com/bancs
 contents
2 Looking Ahead
N. Ganapathy Subramaniam on the rewards of vision, leadership and values

6 6 Cover Story: SEI Investment Co.

Global opportunity leads wealth management solutions provider to rebuild core solutions

12 Interview: SWIFT Asia Pacific

Interview with Ian Johnston, SWIFT’s Chief Executive in the Asia Pacific Region

14 Briefing: TCS Research & Development & Technology

Ian Pitt builds standards in technology, tooling and approach

16 Industry Trends: Corporate Actions

TCS Financial Solu-
Higher volume and complexity leads to revenue opportunity in corporate actions

19 Announcement: Insurance Release 6.0 tions Offers Clarity in

12
IT Leadership to Fi-
Latest version upgrades business processes, product templates and more

14 20 Preview: BAI Retail Delivery Conference nancial Institutions

Bankers open to new ideas in search of customer trust and stability

22 Events
AMEDA leadership Forum; B&N Bank “Go Live” event; Indian Bank is Celent “Model Bank”

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business
application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product
portfolio under the brand name of TCS BaNCS. Our mission is to provide best of breed solutions that will drive growth,
reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base in excess of 240
institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the
20 banking, insurance and capital markets industries worldwide. For more information, visit us atwww.tcs.com/bancs

About Tata Consultancy Services

Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results
to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated
portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the
benchmark of excellence in software development. 

A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 140,000 of the world’s best trained IT
consultants in 42 countries. The company generated consolidated revenues of US $6.0 billion for fiscal year ended 31
March 2009 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information,
visit us at www.tcs.com

Copyright © 2009, TCS Financial Solutions. All rights reserved. No part of this publication may be reprinted or reproduced without the written permission from the editor. TCS BaNCS Magazine is provided to
clients and prospects on a regular basis. TCS Financial Solutions disclaims all warranties, whether expressed or implied. In no event will TCS Financial Solutions be liable for any damages on any information pro-
vided within the magazine. The information is provided to outline TCS BaNCS general product direction. The editorial is to be used for general information purposes. The development, release, and timing of any
features or functionality described for TCS Financial Solutions products remains at the sole discretion of TCS Financial Solutions.

55
cover story

SEI corporate headquarters in the Philadephia suburb of Oaks, Pennsylvania

6
 Building on
Success
Increased worldwide demand for outsourced wealth
management solutions led SEI to embark upon
a bold business initiative to rebuild its core solutions
to serve global markets, using TCS Financial
Solutions as its primary development partner.
By D. K. Tiwari, Global Program Head – TCS Financial Solutions

N
ine of the top 20 banks in the
U.S. are clients of SEI Investment
Co. (NASDAQ: SEIC), a provider of
wealth management solutions
with over 40 years of experience serving profes-
sional wealth managers, institutional investors
and private investors.
SEI’s flagship offering combines an investment
solution, a processing solution and an advice so-
lution, resulting in a unique value proposition to
financial institutions. “Focus on your clients and
on growing your business, and leave the rest to
us,” explains Mark Nagle, Senior Vice President
and Head of Operations, SEI, who manages all
of the operational competency groups that sup-
port SEI’s business. “That value proposition has
worked well for us here in the U.S., and based on
Photo © SEI; portraits by Kay Lim
the pressing need to support the foreign subsid-
iaries of U.S. financial institutions, SEI began back
in 2002 to explore the possibility of extending
the capabilities of its legacy wealth manage-
ment platform to wealth managers operating
in different geographic regions. But SEI soon
discovered that its systems designed for the U.S.
market were not quite ready for overseas de-
ployment.
Concurrently, company leadership started to TCS BaNCS spoke with with
sketch out concepts for an innovative rethinking four SEI executives who played
of its entire wealth management platform. “[SEI’s a key role in developing,
managing and promoting SEI’s
CEO and Chairman] Al West had this notion of
Global Wealth Platform (GWP):
designing a whole new approach to investment Mark Nagle, Senior Vice Presi-
management around SEI’s proprietary view of dent and Head of Operations,
how models-based investing and the mass cus- SEI (top); Richard (“Rick”) Deak,
Director of Global Transactions,
tomization of portfolios should work,” relates

SEI (center); Jeffery T. Drennen,

discussions with prospects, we saw an untapped
opportunity for outsourcing solutions for banks
and independent wealth advisors outside of the
U.S. as well.”
Driven by the market opportunity along with
Jeffrey T. Drennen, Senior Vice President in Op-
erations at SEI. “This required significant devel-
opment, and we came to the conclusion that it
was time to make the jump to a new platform.”
Reporting directly to the CEO, Drennen was
SVP, Operations and Head of the
Global Wealth Platform (pictured
on page 9); James McBride, SVP,
Operations and CIO/Program
Director of the Global Wealth
Platform (bottom).

77
cover story
“ The GWP team decided to follow
a buy-and-build strategy
put in charge of the Global Wealth Platform
(GWP) initiative, a self-contained corporate unit
tasked with designing, developing and deploy-
ing the new platform. “It’s the number one ini-
tiative in the company by far, and certainly our
largest single investment,” Drennen says. “It’s key
to a lot of our new business strategies, especially
in banking and advisory.”
SEI’s legacy ‘Trust 3000’ system still services
U.S.-based clients, and is managed separately by
SEI’s substantial corporate IT department. “While
we have a terrific investment processing plat-
form, it lacks some fundamental things that we
needed for growing international markets,” notes
Drennen. “For instance, to do trade-date report-
ing in ‘Trust 3000’ would be practically
a rewrite.”
Vision Quest
T
he Global Wealth
Platform needed
to have function-
ality across investment
services, securities pro-
cessing and advice, with
support for both private
banks and investment advisors
on the same system. It would also
have to work across multiple markets and
regions, managing multicurrency assets and
multiple compliance regimes. These were
8
ambitious requirements that expanded as the
market opportunity crystallized.
Instead of “buy-vs.-build,” the GWP team
decided to follow a “buy-and-build” strategy,
integrating proprietary components with ex-
isting systems as appropriate for such an un-
dertaking. “We did quite an investigation and
talked to a number of potential partners, do-
mestic and international, looking for someone
who could help us develop the solutions that
we had envisioned,” says Richard (“Rick”) Deak,
Director of Global Transactions, who is respon-
sible for structuring and closing transactions
between SEI and its corporate partners and
private banking clients.
The search eventually resulted in the selec-
tion of TCS and TCS BaNCS in 2003. “They not
only had the right products with TCS BaNCS,
but they also had development expertise, deep
resources and experience in financial services
within TCS,” explains Nagle. “As a partner, they
were willing and able to understand the
vision we had, and work with
us instead of just selling us
something.”
The partnership be-
tween SEI and TCS
was unusual from the
start. “Typically, out-
sourcing firms oper-
ate using a relatively
thin layer of onshore
resources and a much
thicker layer back in India or
in other jurisdictions,” says Nagle.
“TCS, to their credit, was willing to flip that
model around, and not just try to fit us into some
preexisting model they may have had.”
”
“Once we met [TCS Financial Solutions’ Presi-
dent] NGS in particular, we found that we had
somebody who had real expertise in areas that
were very complementary to what we were
looking for,” relates Deak. “Getting to the deal,
we had a really good rapport with NGS and his
team that made us confident that when the
inevitable unforeseen issues would come up,
we’d be able to resolve them – and that has
been the case.”
“We’ve been able to work together as part-
ners,” Deak adds. “We don’t just turn over things
to TCS and wait for it to come back. We work to-
gether to come up with the solutions, and that
makes the process run better and run faster.”
Rewards of Partnership
T
he system-building process began in ear-
nest in 2004. “In the early days, we didn’t
know how big the project was going to
be,” says James McBride, Senior Vice President in
Operations and CIO/Program Director of GWP.
“The breadth of functionality and services was
so significant that the further we got into it, the
bigger it seemed.”
The broad scope of GWP’s mandate highlight-
ed the need for a strong partnership model that
could adapt to changing business requirements.
Keeping pace with the ambitious requirements
of the platform, the team was ramped up from
an initial team size of 23 employees to a team
of 400 within the space of two years. “TCS was
able to step up that development capacity with
knowledgeable resources, both onsite and off-
shore, to help us keep pace with the demanding
scope of the project,” says McBride.
Photos © SEI; portraits by Kay Lim
TCS also had the standing to participate in
the decision-making process from the start
of development. “We were continually having
a discussion about the roadmap, and what
we wanted to build versus what we wanted
to buy,” explains McBride. Because TCS was
 From left to right: Mark Nagel, DK Tiwari,
Rick Deak and Jim McBride.
Below, Jeffery T. Drennen

brought on-board as a de-

velopment partner as well
as a solutions provider,
TCS employees were ac-
tive participants in these
discussions.
Early on, the develop-
ment team had ample op-
portunity to contribute signifi-
cant levels of creative thinking
and innovation to the design pro-
cess. “We tried to do some early experi-
mentation with what we were building, and if it
was the wrong approach we wanted to ‘fail fast’,”
says McBride. “Once we were comfortable that
we were on the right track, we transitioned into
a much more structured organizational model
and process for design, development and qual-
ity assurance.”
The GWP solution is built upon a foundation
of TCS BaNCS, an integrated product suite for
financial services. The Securities Processing solu-
tion provides scalable and efficient capabilities
to support trade processing, global clearing and
settlement, custody and portfolio accounting
and funds administration. On top of that, SEI
uses TCS BaNCS solutions for Announcement
Capture to ensure data quality and Compliance
to meet the demands of anti-money laundering
and know-your-customer regulations. These TCS
BaNCS deployments created tangible enhance-
ments to the product development relationship
between TCS and SEI. “Many of the people work-
ing for us come from the TCS BaNCS product
background, and have a valuable combina-
tion of functional skills, technical skills, domain
knowledge and global experience,” observes
McBride. “It’s very helpful to us to have devel-
opers with that functional knowledge of how
to set up securities delivery instructions across
different exchanges and regions. Traditionally, in
a classic IT outsourcing deal, partners don’t pro-
vide that level of functional knowledge.”

99
cover story
“At this point, the development that we’re do-
ing with TCS has gone well beyond their prod-
ucts,” adds McBride. “Combining TCS BaNCS
product knowledge with our development
needs was a perfect combination.”
Given the close-knit nature of the GWP team,
10
the SEI employees and those from TCS have
been integrated to the point that it’s hard to tell
them apart. They work together, play together
and participate in charity events together. “Hav-
ing worked day-to-day with the development
group, I can’t tell you who’s an SEI employee
and who’s a TCS employee,” relates Nagle. “Here’s
how I know that it was one team: When I would
look out my window, on one evening everybody
would be out there playing horseshoes, and on
the next night they’d be playing cricket.”
“You haven’t lived until you’ve seen a bunch
of programmers playing cricket,” he adds.
Deployment and Beyond
SEI
s first two deployments of GWP
were in 2007 and 2008. Then,
in July 2009, SEI deployed GWP
for a new client requiring several times the vol-
ume previously supported by the platform. “We
migrated 30,000 accounts’ worth of data over
a weekend,” notes Drennen. “It took months of
preparation and testing to do that.”
Accordingly, the resources comprising the
GWP team have been shifting away from full-
time development to a mix of development,
support and implementation. “We’ll continue
to do significant development for at least the
next 24 months, and will begin to evolve into
the business delivery phase – customer report-
ing, data services, client data conversations and
worldwide operations,” explains Drennen.
Indeed, moving a new client onto GWP takes
a certain amount of hands-on effort. “During an
implementation, we spend a lot of time with
the client understanding where their data re-
sides across multiple systems,” says Nagle. “We
may have to reach into 10 or more components
to reconstruct a client relationship. We find the
data, cleanse it, move it onto the platform and

then enrich it, so that clients can capture the
power of integration. They have better informa-
tion about their customers, and access to that
information in a much more structured and or-
ganized way.”
With the power of GWP at the ready, SEI can
approach prospects with a compelling pitch
that focuses on market value through business
transformation. In today’s market, many wealth
managers find themselves spread too thin, with
cumbersome and expensive investment opera-
tions cobbled together from mergers that sup-
port too few clients. At the same time, those
clients are clamoring for better, more compre-
hensive advice with global awareness.
“We make it possible for our clients to op-
Photo © SEI
erate using an efficient and effective business
model that allows them to deliver capabili-
ties to their clients that they
wouldn’t be able to deliver
without the platform,” ex-
plains Nagle. “We can offer a
better client experience and
a better investment experience,
with capabilities that allow you
to essentially outsource your opera-
tions at an attractive price point.”
The result is the ability for wealth manag-
ers to focus on customer relationships, with
better advice and better data. “They can truly
make more money and create more value,”
says Nagle.
SEI’s Global Wealth
Platform (GWP)
offers the valuable combination of
an investment solution, a processing
solution and an advice solution, providing
multiasset, multicurrency functionality
to wealth managers with global assets.
The platform was developed through a unique
partnership between SEI and TCS, with
development resources and subject-matter
expertise provided by a combination of on-
shore and offshore resources from TCS,
and a combination of standard
a
TCS B NCS products and
custom development.
n
Fast Facts
Company: SEI Investments Co.
(NASDAQ: SEIC)
Headquarters: Oaks, Pennsylvania, USA
Business Challenge: To create a new plat-
form for global wealth management outsourc-
ing, capable of providing investment services,
securities processing and advice solutions to
private banks and investment advisors..
Solution: Custom development partnership
layered on top of Securities Processing, Corpo-
rate Actions and Compliance solutions from
TCS BaNCS, an integrated product suite for
financial services.
tktktktktktkktk identify photo
11
11
 SWIFT asia pacific
interview
a
An update for the TCS B ncs community
Ian Johnston, SWIFT’s Chief Executive in the Asia Pacific region,
outlines his main activities and describes ways that
organizations can boost their involvement.
By Alex Goldrick, Marketing and Communications Manager, TCS Financial Solutions, Asia Pacific
Ian, it’s a pleasure to have you involved in our
newsletter. To get the ball rolling, can you please
< Contents >
WIFT
provide our readers with a quick update on your
background?
e
08
d.
ines
ould
nts.
Thank you, Alex – it’s great to be communicating with the TCS
BaNCS community. I’ve been working with SWIFT for 16 years. In
files
and
.
my current role, I’m the executive in charge of the Asia Pacific region,
which includes all of our commercial activity, our customer support
centers in Hong Kong and in Japan, and our administrative func-
tions in the region. My home is in Sydney but my business base is
out of Hong Kong. I spend a good deal of my time traveling – not
only within the region, but further afield as well.
Prior to that, I worked in the banking industry for 20 years, primar-
ily in the areas of international trade and foreign exchange. All of my
banking experience was based in Sydney, and I was involved in the
industry when the Australian market opened up with a floating cur-
rency and the granting of new bank licenses. That was an exciting
time to be involved in banking in this country, and now is also an
exciting time in many respects.
What are SWIFT’s main activities in the Asia
Pacific region?
Across the Asia Pacific market, our main area of focus continues
to be in market infrastructure – the high-value and low-value pay-
ments systems, whether operated by central banks, ACHs or through
a direct model as in Australia and New Zealand.
We see three general situations.
l Firstly, there are countries that do not yet have key infrastruc-
ture in their financial markets, such as high-value payments clearing
or central securities depositories. Our focus here is to help the key
players understand how they benefit from having that infrastructure
in place in their country.
l Second, there are countries which have high-value and low-
value payments systems, but haven’t adopted the use of SWIFT.
Here, we try to help people to understand the value proposition
12
of SWIFT. The real benefit is to the end users, which are the banks
and securities houses. Because they’re already customers of SWIFT
for their cross-border transactions, the ability to reuse that infra-
structure and to use global standards really does bring down the
total cost of ownership. SWIFT brings down their operating costs,
improves their efficiency and reduces risk in the back office, and so
there are numerous advantages to countries that move their infra-
structure onto SWIFT.
l Finally, there are countries that have the infrastructure and are
using SWIFT.
It probably seems fairly obvious but there’s a lot of opportunity
in China and India, not just from the perspective of market infra-
structure, but just because of the sheer size of the growth in the
middle class. For example, China has now become the largest auto-
mobile manufacturer in the world, surpassing the U.S. We’re not in
the auto business, but that’s an indication of what’s happening as far
as spending power is concerned, and people will be buying more
financial products as they have disposable incomes to do so. That’s
going to flow through into the financial sector, and into SWIFT.
How does SWIFT help organizations to capitalize
on this growth?
For banks coming into the region, we support their business by
helping them to reduce their operational costs as they expand into
different markets. If they’re able to adopt and use SWIFT in a local
market without having to put in proprietary solutions, it keeps their
costs down. By the same token, we’ve got to recognize that many
of our customers are indigenous banks as well, and helping them in
growing their business in their national markets is also an important
endeavor that we pursue. It’s about providing a level playing field
to all financial institutions, which can use the same secure, reliable,
standardized network with the same standards which give them
global interoperability.
We also have a strong offering for corporates. As of the end of
June, out of about 470 corporates that have joined globally and
are using SWIFT to communicate with some 900 banks in over 100
countries, we’ve got about 55 corporates in Asia Pacific signed up
to use SWIFT for Corporates. That’s about the weight that we would
expect considering the overall SWIFT traffic in the region.
Initially, the main driver for adoption of SWIFT for Corporates was
the creation of shared service centers for treasury and risk man-
agement. However, over the last 12 months, the main focus has
shifted to liquidity. With financial markets so tight, corporates have
got to make sure that they know where every dollar is and then
put the money to use. Whether it’s a multinational with multiple
banking relationships or even a company with a single bank oper-
ating across multiple countries, corporate treasurers are looking to
get greater visibility into their cash. The financial supply chain has
become very important to those organizations, and that’s where
SWIFT helps, by providing standardized access to financial institu-
tions across borders.

How can people learn more about SWIFT’s

activities in the region?
We’ve been running annual Business Forums in as many as 10
locations. Business Forums are one- or two-day events where our
customers have the opportunity to give presentations about how
customers are impacted by market issues either at the national,
regional or even global level. Over 470 people attended a recent
Business Forum in Japan, including our CEO. We’ll do another one
in India in November.
Plus, it’s shaping up to be a very good Sibos. We’ve got plenaries
on each day with excellent speakers lined up. This year we have
seven different sessions focusing on Asia or Asia-themed topics,
which is the largest we’ve ever had. Notwithstanding economic
circumstances, we’re on track to having a very well attended and
successful Sibos. n

Ian Johnston, Chief Executive Asia Pacific, SWIFT

13
13
briefing
Maximum R&D&T
TCS harnesses benefits of innovation across functional areas
By Ian Pitt, Head – Research, Development and Technology, TCS Financial Solutions
W
ith more than 20 years in
the technology industry at
both startup companies and
established organizations, Ian
Pitt joined TCS Financial Solutions in 2007. Initially,
Ian was primarily focused on presales, while also
providing architectural input to customers and
internal engineering teams. Building upon that
advisory role, Ian has recently been appointed
as the Head of the Research, Development and
Technology (R&D&T) group within TCS Financial
Solutions. He is based near Boston, Massachusetts.
The R&D&T group seeks to bring standards in
technology, tooling and approach to bear upon
our broad suite of TCS BaNCS solutions. It’s an
opportunity to look across a number of groups
and functions that have been separate until this
point. Now that these groups are aligned under
14
a single banner within TCS Financial Solutions,
we can start to introduce new approaches
and technologies to benefit our customers.
To facilitate this, the R&D&T group covers a
number of functional areas that cover usability,
performance and advanced model-driven
architecture. At a high level, these are:
The Center for Usability
Excellence (CUE)
CUE’s role is to provide guidance and usability
design to make sure that every TCS BaNCS
application operates both effectively (or in plain
English, “easy-to-use”) and efficiently, with broad
functional capabilities. The usability team makes
sure that TCS BaNCS applications have multiple
personalities – so that they’re easy to learn without
limiting the ability of power users to perform
complex tasks.
At our dedicated facility in Bangalore, we
have a team of people who are specialists in
usability. As well as designing our applications’
look and feel, they check for usability
by monitoring users’ interactions with
applications, including their facial expressions,
eye movements and verbal feedback. That
gives us a good view into how successful
the current designs are, and allows us to
make reactive changes to the screens and
workflows. In addition, we can make proactive
changes to new applications by incorporating
feedback into the design stage. The benefits
here are that the TCS applications lower the
learning curve to productivity and reduce
the overall time to transact work within the
system. The net result is that our customers
get to do more with the same team sizes using
our applications.
 Performance Planning Expertise
Center (PPEC)
The PPEC ensures that our customers can make
the best use of their hardware and operating
system resources.
Before we release a TCS BaNCS application,
the PPEC performs the initial scale benchmarks,
where we install the software and perform a
series of stress tests to support capacity planning.
However, in many cases a customer deployment
involves a combination of multiple products,
and so prior to launching a new TCS BaNCS
application into production, many customers
want to get a sense of how the combination
would perform under a full load.This is particularly
important as customers begin to move toward
integrated systems instead of point solutions.
For silo applications that behave similarly for any
iStockphoto
installation, it’s relatively simple to use assumptions
and extrapolation for benchmarking. But when
you start building complex solutions using
multiple applications and existing legacy systems,
usage profiles become very different between
customers. The PPEC builds up models of how
TCS BaNCS applications behave, so that we
can do “what-if” scenario planning and proactive
modeling. This shortens the time it takes to get an
application through the benchmarking stage and
into a customer’s environment.
Advanced Model-Driven Tooling
The final product-centric area of the R&D&T Group
is focused on the next generation of model-
driven tooling that underpins many of the TCS FS
products today. Known as Mastercraft, the suite
provides an application generation environment
that rapidly creates business functionality from
consistent definitions of the requirements.
Because the suite maintains information about
business requirements, it provides a complete
view of functionality at all times, facilitating high
levels of re-use –- which is of vital importance in
today’s modern architectures and applications.
Ian Pitt
W
ith so much happening in the
business and technical worlds,
it’s vital that TCS FS makes
best use of its resources, and
to ensure that we can make best use of all the
work happening with TCS as a whole, the R&D&T
group plays a role in the Corporate Technology
Board (CTB).
The CTB operates under the leadership of
K. Anath Krishnan, Chief Technology Officer
of TCS, and is formed from individuals across
TCS as well as external industry experts.
The role of the CTB is to review current and
future programs within the company, perform
special projects that have a direct impact on
the company and act as a sounding board for
all members. It serves to make TCS a “smaller
place” by being able to see what’s happening
across the company. Too many large
companies suffer from having discrete, hidden
pockets of activity resulting in duplicated
effort and contention, and the CTB is designed
to prevent this from happening at TCS.
Combining Research with Reality
In addition to these tasks, the R&D&T group
continues to monitor the feasibility of new
technologies for financial services institutions.
The market is awash with ideas and new
approaches such as cloud computing, model-
driven development, services-oriented
architecture and Web 2.0, among others, and
while much has been written about each
one of them, there is still significant buzz and
interpretation going on in the marketplace.
In many cases, we already work with these
technologies to ensure that their benefits to
our customers are understood and available
where appropriate. This pragmatic adoption
of technologies allows TCS customers to
derive great business benefit from the
applications while knowing that the most
appropriate features and techniques are
underpinning the solutions.
Looking forward to the next wave, other
technologies have been talked about for a
while and are gearing up for broader adoption
now. These include self-healing systems,
”intelligent agents” for customer assistance,
and the semantic Web – a.k.a. Web 3.0. These
technologies can help banks save costs and
enable leaps in scalability and functionality.
Although these topics may appear a little
ephemeral at the moment, they are rapidly
maturing and therefore becoming attractive to
our customers.
By combining TCS BaNCS solutions with
the advanced research occurring across TCS
in areas ranging from cloud computing and
virtualization to process automation, we’re well
set to help financial institutions spend their
remaining IT budgets wisely. At TCS Financial
Solutions, we have applications that are ready
to run, the technology to drive efficiency
and effectiveness, and the knowledge and
expertise to guide long-term strategy for
organizations of all sizes and business models.
It’s all about ensuring that technology delivers
real benefits to the business, allowing our
customers to continue to grow even in hard
times. Without adopting technology for
technology’s sake, we continue to produce
applications that focus on the business tasks
at hand in the most effective and optimum
manner. n
15
15
industry trends
Corporate actions
Higher volume,
higher potential profit
Investors’ demand for accurate, timely information creates
revenue opportunity across data supply chain
by Manmohan Singh, Solutions Head – TCS BaNCS Corporate Actions

L
ast year, securities holders received
notification of seven million scheduled
events, including fixed-rate interest
payments and bond maturities. In addition,
these investors were presented with almost
one million corporate actions.This statistic from
DTCC includes more than 800,000 “mandatory”
corporate actions calling for a decision by
a deadline, and about 200,000 “voluntary”
corporate actions that do not require a
response.
Earlier in the decade, the total volume of
corporate actions numbered in the tens of
thousands per year. What happened in the
intervening years to result in a volume increase
of this magnitude? The answer is twofold –
the world got smaller, and corporate actions
became more complex.
iStockphoto

16
“ Recent trends have made
corporate actions more frequent,
more complex and more
important to the end stakeholder.
Sources of Volume
Corporate actions result from changes in
capital structure or financial position by an
issuer of exchange-listed securities. Whenever
a corporation issues a special dividend, makes
a buyback offer for its own shares, enters into
financial distress or performs any number of
possible corporate finance activities, each party
involved in the chain of custody is responsible
for passing the relevant information down the
line in an accurate and timely manner. The end
stakeholder – whether a financial institution, an
asset manager, a high-net-worth individual or a
retail customer – has to receive the information
about the corporate action, make a decision
as to how to respond, and then do so within
specified time constraints.
Recent trends have made corporate actions
more frequent, more complex and more
important to the end stakeholder.
Globalization has increased the number of
securities exchanges operating around the
world, allowing domestic and regional players
to raise capital through these new marketplaces.
In addition to local investment opportunities,
cross-border trading has been the natural and
expected result. Investors who once maintained
solely domestic asset portfolios now seek higher
risk-adjusted returns through diversification,
and issuers cater to these cross-border investors
with financial instruments suited to their status.
Not only are there more companies on listed
exchanges than in the past, but it’s also the case
that organizations with global investors tend to
issue a greater variety of securities. In turn, the
average investor has to stay appraised of a much
broader range of financial instruments from
corporate entities operating across multiple
geographies and markets. These globalization
trends have contributed to a sustained increase
”
in the volume of corporate actions.
On top of that, the credit crisis has ratcheted
up the overall complexity of corporate actions.
In a difficult credit environment, companies file
for bankruptcy, initiate takeovers, enter into
mergers and acquisitions, spin-off businesses,
execute reverse stock splits and undergo other
capital restructuring events that would not
have been necessary in a stable and benign
financial climate.
Furthermore, in a global downturn it’s a
buyer’s market for corporate-backed securities.
With scarcity of capital, issuers have to compete
harder for their share of investors’ portfolios, and
have done so by differentiating their securities.
For example, instead of offering a plain-vanilla
bond that would have been sufficient to raise
capital during the 1990s, an issuer today may
seek to attract capital by creating different
instruments with various characteristics
appealing to investors of a certain size, country
of domicile, or tax situation. Consequently, a
capital structure event that once required a
single corporate action may now call for several
corporate actions of higher complexity.
Coping with higher volumes and higher
complexity hasn’t been easy for the financial
services industry. Even as volumes have
increased, investors in the current market require
increased transparency and stringent data
quality, and have shown minimal tolerance for
error and inefficiency. For a financial institution
processing an event, the penalty for failure can
be substantial. If an investor doesn’t receive
timely, accurate notification of an event, the
corporate actions processor may have to pay
a substantial sum to cover any losses – which
explains why corporate actions remains high on
the agenda for financial institutions despite the
global recession.
17
17
 “ The increase
in volume and
complexity
of corporate
actions creates
opportunities
for financial
”
institutions.
Responding with Automation
Organizations responsible for processing
corporate actions have come under intense
pressure to eliminate manual processes and
sources of error even under an increased
workload. In answering this challenge, the main
hope for the securities industry resides in three
parallel efforts that promise to improve the level
of automation in the corporate actions lifecycle,
leading to higher accuracy and faster response
time for stakeholders.
First, securities issuers can adopt standards-
based data formats to ensure the correctness of
corporate actions data from the source. Efforts
such as the XBRL initiative have started to gain
adoption in some countries, which will help to
ensure that the intent of the issuer is reflected
in the information provided to investors. Also,
SWIFT has invested in aligning the provider
community with the efforts of the international
18
Securities Market Practice Group (SMPG) across
major markets. The industry has taken significant
steps to move to UNIFI (ISO 20022) standards,
with growing compliance to SMPG guidelines
and their national counterparts.
Second, firms can capture the increased
complexity of corporate actions using solutions
designed to meet the challenge. If a corporate
actions system lacks the requisite level of
complexity, or if an operator has to convey
complex information using unstructured text
fields, it becomes more likely that data will be
misinterpreted in transit to the detriment of
stakeholders. As an example, last year in the
Australian market an issuer announced a buyback
event that involved 54 separate options.
Third, investors have to be given the maximum
response time for a corporate event, with
decisions based on accurate information and
informative reports. Global firms also have to
iStockphoto
be provided with data suited to their worldwide
operations, serving multiple entities across
geographical boundaries, with information in
multiple languages. Accordingly, participants
across the corporate action supply chain
must minimize delay in order to permit timely
responses by all stakeholders.
The TCS BαNCS Advantage
The Corporate Actions solution from TCS BαNCS,
an integrated product suite for financial services,
provides market-leading advantages across all
three of these efforts.
TCS BaNCS includes a Service Integrator
module, which facilitates intelligent integration
with market interfaces. Whether the source
data comes from an Excel spreadsheet or a
vendor feed such as Telekurs, Bloomberg or FT,
TCS BaNCS can automatically reconcile the
various feeds, select the best sources of data,

and generate a composite snapshot of the best
possible information available at a given time.
The solution performs field-level scrubbing,
giving firms the opportunity to pick the “best of
the best” data.
With this information, TCS BaNCS
automatically generates the most appropriate
information for stakeholders, disseminated
through channels of the customers’ choosing.
Through comprehensive reports and forecasts
available in multiple languages, TCS BaNCS
supports the global footprint of the largest
multientity organizations, as well as the needs of
firms operating across smaller geographic areas.
Furthermore, TCS BaNCS is fully conversant
with SWIFT and ISO 15022 standards. With an
extremely flexible data structure, TCS BaNCS
can easily adapt to future modifications and
alterations in these industry efforts, enabling
financial institutions to take rapid advantage of
industry best practices as they evolve.
In the past, corporate actions processing
was consigned to the operations department.
Now, it has become a strategic initiative and
an emerging source of revenue. The increase
in corporate actions volume and complexity
opens the opportunity for financial institutions
to differentiate themselves from those
competitors trapped by manual processes
and inflexible systems. Those that can deliver
accurate and actionable information on a
timely basis stand to gain significant advantage.
Financial institutions that offer investors
superior processing capabilities and sound
advice related to corporate actions will find
themselves in a position to attract new business
and retain existing customers, expanding their
horizons to new opportunities both at home
and abroad. n
TCS BaNCS Announces
Insurance Release 6.0
Fast time to market drives rapid uptake
among Life and P&C insurers
First released in 2001, the Insurance solution from TCS BaNCS now supports 25 clients in
18 countries, with installations in the United States, India, Bahrain, Saudi Arabia, Hungary
and several other countries. Adoption has been gaining steam, as an impressive twelve of
these insurers have licensed the system since 2007. The Insurance solution supports a wide
range of insurance products in the P&C, Individual Life, Group Life, Workers compensation
and Reinsurance domains.
Indeed, the functionally rich TCS BaNCS offerings allow customers to expand their
businesses on demand, providing superior speed to market. For example, one customer
of the Insurance solution recently expanded into a new line of business, while another
expanded its geographical reach cross-border. Due to the flexible nature of the TCS BaNCS
solution, customers can be assured that their systems can grow and scale along with their
businesses.
The latest version of the Insurance solution, version 6.0, will be released in
September 2009. The release will include additional business processes for policy
administration and claims management, co-insurance processing and litigation
management, with enhancements in funds handling along with numerous
management and analytical reports. The release also includes the addition of several
new product templates, including support for liability, all-risk property, engineering,
and variable annuity insurance products. In addition, the release upgrades the
TCS BaNCS SOA framework, with enhanced business rules management capability,
strengthened web-security features and more.
The Corporate Actions solution from TCS BaNCS has recently been accredited with
the SWIFT Ready award for 2009. The SWIFT Ready accreditation is awarded to industry
leading applications that comply with a set of criteria linked to the support of SWIFT
messages, messaging, connectivity and SWIFT functionality. The Corporate Actions
solution has won this award for the fourth consecutive year. SWIFT Ready accreditation
for TCS BaNCS products in the Corporate Actions arena demonstrates our ongoing
contribution to the industry. The team at TCS is committed to developing world-class
solutions for the benefit of financial institutions worldwide.
19
preview
CAUTIOUS OPTIMISM
Bankers open to new ideas in search of customer trust and stability
Deborah Bianucci, President & CEO of BAI, spoke to TCS BαNCS about bankers’ reaction to the economic conditions
of the past year, and how the retail banking business has been adapting to changing conditions in the industry.

T
here’s a cautious optimism that perhaps
the worst is over. Economists are
predicting that the recession will end
this quarter and that we will be on a path to
a more stable business environment, with an
acknowledgement that it’s going to take a long
time to get back to normal. But for the first time
since the crisis began, I’m starting to see an
element of optimism – cautious as it may be.
With so many things in flux, it had become
very difficult for the people running the banks
to deal with the impact of the economic
environment on the decision-making process.
Because it was unclear what banks would be
able to do, many decisions were frozen in time –
from buying core banking technology to making
strategic decisions on branch expansion. Bankers
have now had some experience in the current
environment and have come up with a more
orderly way to manage their businesses, which
means there isn’t as much uncertainty about
approaching important decisions.
Now, banks are looking forward and trying to
determine what they can do to take advantage
of stronger economic conditions – again, with
cautious optimism. And they’re very aware of
the importance of rebuilding customer trust and
confidence in the banks.
Trust via Relationships
To regain trust, the deposit side of the retail
banking business is critical, because it’s such a great
opportunity to cement customer relationships.
The deposit relationship drives how consumers
view their primary financial institution, and it
can be directly tied to a bank’s ability to retain
and ultimately expand the broader customer
relationship. Deposit growth has always been a
huge priority for banks, but now it’s just a different
dynamic because of what’s happening in the
economic environment. Last fall, concerns about
bank stability drove consumers to diversify their
bank relationships by spreading deposits across
multiple institutions. The beneficiaries included
community banks as well as large banks viewed
as safe and stable. For the recipients of a deposit
influx, the question becomes, “How do you retain
those customers once things go back to normal?”
Bank executives are also very aware of
regulatory reform and the changes and
pressures that always go along with it. With
the changes looming in the way that overdraft
fees for insufficient funds are calculated, banks
now have to figure out how they can generate
fee income to support the free checking
environment that customers have grown to
expect. The rules of the game are changing.
Leaders Wanted
Facing these challenges, executives are thinking
about what it takes to lead in these uncertain
times. It’s important to not only weather the
storm, but also to come out of it with a strong
competitive position.
While there are absolutely those banks that
will hunker down and wait until economic
conditions improve, there are other institutions
that see this as an amazing opportunity to create
a competitive advantage. The more progressive
banks are using management information
systems and decision models to improve their
confidence in actions they may take, and they’re
moving forward with a combination of strong
risk management and aggressive strategic
initiatives. For those who have been holding
back in a wait-and-see mode, there’s a pent-
up demand for strategic investments, and we
anticipate that in 2010 we’ll see banks getting
more serious about making those investments.
These investment ideas are increasingly
likely to come from outside of the U.S. For a
long time, bankers in the U.S. didn’t pay much
attention unless it happened here. Over the
past few years, we’ve seen a real sea change
in the level of interest that bank executives
in the U.S. have about what’s going on in

BAI, based in Chicago, sponsors financial services industry conferences,publishes research and other
editorial content and provides learning and development opportunities for industry professionals.
TCS BαNCS will be sponsoring and exhibiting at the BAI Retail Delivery Conference and Expo,
to be held in Boston, Mass. on November 3-5. Register at www.bai.org/retaildelivery/

20
other regions of the world, and certainly
vice versa. Bankers have developed a much
greater appreciation of the value of looking at
business models around the world.
We’ve shifted the content for the BAI Retail
Delivery Conference to match this growing
interest. The conference has attracted attendees
from outside the U.S. for years, but until 2006
the content was almost entirely U.S.-centric.
Last year, about 40 percent of the content was
related to retail financial services outside the
U.S., and this year’s lineup is comparable. The
ability for people to connect with retail bankers
from around the world is a huge part of the
value proposition of the conference, and it’s a
very high priority for us. n

“ The rules
of the
game are

”
changing.

Conference keynotes include Ram Charan, speaking on the elements of leadership in a time of economic
uncertainty; GE’s former chairman Jack Welch on customer value; TD Bank’s Bharat Masrani and
U.S. Bancorp’s Richard K. Davis on redefining the value proposition of financial services;
and former vice president Al Gore on the concepts of change, adaptability and sustainability.

21
21
events TCS Attends
ameda leadership forum
in Egypt From left: Mohamed
Abdel Salam, Chair-
man, MCDR, Egypt; R

Discussion focused on reshaping Vivekanand, Global Head

- Market Infrastructure,
TCS; Tertius Vermeulen,
business model for depositories COO, Computershare
SA (Pty) Limited; Ramy
Bourgi, Head of Custody,
From our long-standing relationships with financial institutions in the
Societe Generale Securi-
Middle East and Africa, TCS was invited to the AMEDA Leadership Forum, ties Service
a three-day event held in April in Alexandria, Egypt.
Hosted by the Africa & Middle East Depositories Association (AMEDA),
a non-profit organization comprising central securities depositories and
clearing houses in the region, the AMEDA Leadership Forum provided a platform for members to
exchange information and experiences on technical, economical, financial, legal and regulatory is-
sues. With TCS as a special invitee and the only vendor at the conference, R Vivekanand, Global Head
– Market Infrastructure at TCS, was invited to speak on several panels.
With over 150 attendees from Egypt, Morocco, South Africa, Nigeria and almost all nations in the
Middle East, the AMEDA Leadership Forum has become a key networking forum for the region’s
financial services industry. In attendance were representatives from Dubai Financial Market, MCDR,
STRATE, Tadawul and Kuwait Clearing Company among others. Prominent attendees included Ms.
Above, from left: Talal
Monica Singer, CEO of Strate (South Africa); Mohamed Abdel Salam, Chairman of MCDR (Egypt); Mr. Tomas Kindler, Al Ghanim, Kuwait
CEO of LinkUp Markets; Ms. Fathia Benis, CEO of Maroclear; Tertius Vermeulen, COO of Computershare SA (Pty) Lim- Clearing Company;
Mohamed Abdel Salaam,
ited (South Africa); and Ramy Bourgi, Head of Custody at Société Générale Securities Services.
R Vivekanand

tcs bancs at
B&N Bank “Go Live” event
Russian bank marks first stage of
implementation of Core Banking solution at retail branch
The team from TCS has recently implemented the Core Banking solution from TCS BaNCS at B&N Bank. The first
B&N Bank retail branch to go live is positioned in Krasnodar, located within the Krasodarski Krai region in Russia.
By implementing the Core Banking solution, B&N Bank will achieve improved operational efficiency and a lower
total cost of ownership. Due to TCS BaNCS advanced architecture and knowledgeable team of delivery experts,
the group successfully delivered the first stage of the implementation project in a timely manner.  
To celebrate this implementation B&N Bank held a formal “Go Live” ceremony with TCS, Oracle, IBM, Diasoft
and LanIT at the Marriott Grand Hotel in Moscow. This event was attended by over 50 delegates representing
local banks, vendors and the media.

Photo, top: Anton Maikishev, Head of Uninterrupted Business and Hosting, IBM; Colin Sword, Country Head Australia,
TCS Financial Solutions; Alexey Kolabuhov, Senior Vice President, B&N Bank.  Photo, center: Sergey Gorashenko, First Vice
President, B&N Bank. Photo, bottom: Alexey Kolabuhov.

22
indian bank selected as T
ata Consultancy Services announced in
July that its client Indian Bank, a premier

Model Bank by Celent bank owned by the Government of India,

has been selected as a Model Bank for their core
banking modernization program by Celent, a
Core banking modernization profiled as a case research and advisory firm.

study of effective technology usage in banking Celent’s Model Bank research was designed to
try to answer an apparently simple question: “What
would it look like for a bank to do everything right
with today’s technology?”
1 2 Indian Bank has been serving customers
for more than a century and is seen as a front-
runner in specialized banking as well as rural
development. By deploying TCS BaNCS across
1,647 branches, Indian Bank has re-engineered its
IT infrastructure to offer finely tailored products to
its corporate and retail customers.
Speaking on the occasion, M.S. Sundara
Rajan, Chairman & MD of Indian Bank said: “Our
mission is to take banking technology to the
common man and we are delighted to receive
this acknowledgement that reinforces the same.
To be benchmarked among the finest, global
institutions around the world can only spur us
to further heights. I must also commend TCS
3 4 Financial Solutions for their strong commitment
to our bank as we together search for innovative
5 ways to redefine banking in this region”
“Indian Bank is a classic example of the
leapfrogging that is happening throughout Asia,”
said Bart Narter, Senior Vice President, Banking
Group, Celent. “Because Indian Bank has entirely
scrapped their legacy systems, the bank is able
to jump to a state-of-the-art infrastructure with
increased back office and IT efficiency and a
broader product offering.”
Commenting on the accolade received
by Indian Bank, N. Ganapathy Subramaniam,
President TCS Financial Solutions, said: “It has
been a joy to witness firsthand how a fine
institution like Indian Bank has harnessed change
to serve their customers. Their vision and total
commitment to the modernization program
merits this award, and we are only glad to play
a support role by delivering certainty throughout
1. Indian Bank receives Model Bank award from Celent in the area of infrastructure and architecture; 2. M.S. this transformation program. This is the second
Sundara Rajan, Chairman and Managing Director, Indian Bank; 3. M.S. Sundara Rajan receives a congratula-
year in a row that a TCS BaNCS customer has
α
tory bouquet; 4. M.S. Sundara Rajan with attendees; 5. N. Ganapathy Subramaniam from TCS B NCS, M.S.
Sundara Rajan from Indian Bank, and Bart Narter from Celent. been cited in the Celent Model Bank Report.”

23
23
BNP Paribas Securities Services (BNP Paribas) is the leading European provider of securities services for
fund managers, financial institutions and businesses. To keep pace with the ever-changing sector, BNP
Paribas required real-time information on corporate actions. It needed a solution that would facilitate the
management of all kinds of corporate events and, moreover, automate reporting of the same. Tata
Consultancy Services (TCS) implemented the Corporate Actions Solution from TCS B NCS, an integrated
product suite for financial services, to consolidate the global and local custody operations onto a single IT
platform. As one of the world’s fastest growing technology and business solutions providers, TCS enabled
a high degree of standardization to upgrade business processes to support higher volumes, and facilitate
the processing of 150,000 corporate action events in a year. Pushing STP further with accurate client
reporting and to scale up the business. And of course, enabling BNP Paribas to experience certainty.