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Solutions recognised based on market impact, vision, and capability
TCS BaNCS positioned as a Leader in Everest Group’s Wealth Management Products PEAK Matrix® Assessment 2023.
The report assessed 16 leading wealth management technology providers’ vision, solution capabilities, and market impact based on which it categorized them as Leaders, Major Contenders, and Aspirants. TCS BaNCS received the highest scores in technology capability, flexibility and ease of deployment, value delivered, vision and strategy, and support.
The report qualified that the Leaders award winners have extensive coverage across the wealth management value chain and heavily invested in advancing their capabilities by leveraging technologies such as AI/ML, robotic process automation (RPA), and API integrations amid the changing customer demands.
The Everest Group’s assessment graph reveals 16 leading wealth management technology providers who were positioned based on two parameters. The first one was their vision and solution capabilities, which were measured on the ability to deliver services. The other parameter was market impact. Based on these two parameters, the assessment categorized them as leaders, major contenders, and aspirants. TCS BaNCS received the highest scores in technology capability, vision, and support, among other wealth management technology leaders. The major contenders included GBST, FNZ, SEI, and others achieving the average scores in the assessment. The lowest scores were awarded to the aspirants which included Bravura Solutions, Vestmark, and Prive Technologies.
The report highlights following strengths of TCS BaNCS:
TCS BaNCS for Wealth Management has developed integration capabilities in a homogeneous platform architecture to bring down the patchwork required and enable smooth operations.
Provides an end-to-end solution that can be deployed in business process as a service (BPaaS) construct to end customers.
Provides advisor capabilities specific to all segments along with excellent execution capabilities.
Well-established ecosystem of technology partners, such as Microsoft, Oracle, Adobe, and yellow.ai helps to enhance its operational and technical capabilities.
Swipe LeftSwipe RightTCS has been investing in wealth technology with the objectives of helping innovate advisors’ practices and building a superior digital customer experience across the entire wealth management spectrum, including mass market and affluent segments that are growing rapidly. Our leadership position in this report reflects our focus on building capabilities that cater to the new age demands of wealth management across a variety of customer segments, giving customers the flexibility to select the solutions they need via a deployment mode of their choice.
Venkateshwaran Srinivasan
Global Head, TCS Financial Solutions