TCS Financial Solutions, a business unit of Tata Consultancy Services (TCS) announced that it will provide ABN AMRO Clearing Bank N.V. with TCS BαNCS integrated ‘Custody, Cash and Corporate Actions’ solution.
Andrej Bolkovic, Global Chief Information Officer, ABN AMRO Clearing commented, “This project will significantly lower our maintenance and IT related costs. TCS BαNCS not only meets our needs from a functionality perspective but supports and enhances our operation’s capabilities in a rapid and ever changing business environment.”
TCS BαNCS will help streamline ABN AMRO Clearing’s operations across multiple markets and regions and reduce maintenance cost. The deployment of the integrated solution will be accomplished within the next 14 months.
“Reducing the overall operational complexity, while ensuring customer centric processes and offerings are the key challenges for European banks. They are looking for IT solutions that can seamlessly integrate front and back offices and TCS BαNCS is clearly among the solutions that can support this evolution,” said Axel Pierron, Banking Analyst at Celent, a research firm.