TCS Named a Leader in Payments IT Services by Everest Group

Tata Consultancy Services’ Investments in Developing Proprietary Evaluation Tools, Expertise in Modernizing Application Architecture and Extensive Partnership Ecosystem, Cited as Key Strengths

NEW YORK | MUMBAI, January 10, 2024: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been positioned as a Leader in Everest Group’s PEAK Matrix^® for Payments IT Services.

The report highlights the significant investments made by TCS in developing evaluation tools such as distributed ledger technology evaluation toolkit, ISO20022 enterprise readiness toolkit, payments financial crime and compliance effectiveness evaluation and payments business audit and readiness toolkit that bolsters its capabilities in strategic engagements. Highlighted as a key strength is TCS’ expertise in modernizing application architecture which has been highly appreciated by clients.

The report goes on to talk about the extensive partnership ecosystem and joint go-to-market strategies for areas such as cross border payments, RTGS payments, and card management that TCS has built to co-create solutions for emerging payments use cases.

“TCS is helping financial services firms across the world innovate and provide instant, more efficient, and alternative payments options for customers to differentiate themselves in the fast-evolving payments landscape, featuring fintechs, neobanks, PayTechs, and embedded payments. Our deep domain knowledge, investments in research and innovation, portfolio of software products, proprietary tools and accelerators, and robust ecosystem partnerships have made us the preferred partner in our clients’ growth and transformation journeys,” said Shankar Narayanan, Business Group Head, BFSI – UK, EMEA & APAC, TCS. “This recognition as a Leader reflects our strategic focus on co-innovating the future of payments with our customers, helping them unlock new value and revenue opportunities.”

TCS’ domain-led offerings include a comprehensive repository of reference architectures, models and processes, tools, products, techniques and approaches, as well as access to its innovation and partnership ecosystem. These offerings underpin its strategic investments in designing transformative business critical solutions for the payments industry.

In addition, TCS’ unique ability to embedded financial propositions to adjacent industry value chains leveraging unique client business and industry insights enable transformative solutions for the industry. TCS has invested in developing evaluation tools such as distributed ledger technology evaluation toolkit, ISO20022 enterprise readiness evaluation toolkit, payments financial crime and compliance effectiveness evaluation, and the payments business audit and readiness toolkit.

TCS BaNCS for Payments offers multi-entity, -currency, and -country capabilities covering the complete value chain, including order management, clearing and settlement. It provides products like credit transfers, including domestic, real time and international variations, direct debit on a single platform. The future-proof solution is designed on ISO20022-based data and process models and includes all the cutting-edge features that forward thinking customers seek from a modern product, including real time payments and open APIs. TCS BaNCS is certified with the SWIFT Ready, SWIFT GPI Ready label for the payments market.

TCS also helps clients accelerate innovation, leveraging the TCS Pace Port™ network of co-innovation hubs spread across New York, Pittsburgh, Toronto, Amsterdam, and Tokyo, and ecosystem of partners from academia, start-ups, and technology providers. It works closely with customers at TCS Pace Ports to ideate on their most pressing business needs, rapidly prototype the most promising solution candidates and build them.

“TCS has strengthened its value-proposition by showcasing credible success proof-points across multiple emerging demand themes in payments. Its extensive partnership ecosystem and joint GTM motions for areas such as cross-border payments, RTGS payments, and card management further enhances its capabilities,” said Aaditya Jain, Vice President, Everest Group. “Investments into building payments-focused proprietary tools and recognition by clients on superior application architecture modernization capabilities have helped TCS earn a Leader recognition on Everest Group’s Payments IT Services PEAK Matrix Assessment 2023.”

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TCS is here to make a difference through technology.

We’re in it for good, driving positive change for the benefit of all.

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

TCS Named a Leader in Payments IT Services by Everest Group

TCS is here to make a difference through technology.

We’re in it for good, driving positive change for the benefit of all.

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

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