TCS BaNCS gets placed in Gartner Leaders Quadrant

DELHI, INDIA: TCS Financial Solutions, a strategic business unit of Tata Consultancy Services (TCS),  dedicated to providing business application solutions to the banking, insurance and capital markets industries, today announced that TCS BaNCS has been placed in the Leaders Quadrant in the International Retail Core Banking report.

TCS BaNCS is one of the 18 core banking platforms that were profiled from an original list of 40 submissions, said a press release.

Gartner defines leaders as “vendors that demonstrate strong development methodologies and all of these vendors have a measurable strategy for disaggregating core banking software functionality into component-based constructs.

Many vendors possess methodologies for quality assurance or are executing on a strategic road map to attain certification. Most vendors maintain a strong banking market understanding through methodical processes and have extensive marketing delivery and sales channels. Although there are many well-balanced vendors/products in this quadrant, some are in transition and possess evolving products, process maturity, or both.

TCS BaNCS Core Banking solution version 10 is the center pieces of this evaluation along with myriad other aspects that cumulatively drive the go to market strategy for TCS Financial Solutions.

N. Ganapathy Subramaniam, president, TCS Financial Solutions said “Our customer centric approach of building solutions and a highly mature product engineering capability continue to demonstrate success in solving pressing customer problems. We believe our placement in the report only substantiates our promise of delivering certainty to our esteemed clients”.

The report entitled Magic Quadrant for International Retail Core Banking — 2010 was authored by Don Free on September 13, 2010.