Tata Consultancy Services will deploy TCS BaNCSTM Global Securities Platform, an award-winning securities processing platform, to help the leading global custodian streamline securities and asset servicing to provide a unified, consistent, and reliable experience to its customers
PRESS RELEASE
CHICAGO | MUMBAI, MARCH 06: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has signed an expanded deal with Northern Trust, a global financial institution, to centralize and standardize its custody operations across 99 direct and global markets. TCS will deploy its comprehensive TCS BaNCSTM Global Securities Platform for Northern Trust, which has $17.4 trillion of assets under custody and administration as of December 31, 2024.
This expansion has strengthened the existing relationship between the two organizations since 2017, with TCS powering the corporate actions and income processing for Northern Trust, a top 10 global provider of asset servicing, investment management and wealth management services. TCS will now deploy TCS BaNCSTM Global Securities Platform's multi-entity, multi-market and multi-asset class capabilities to help Northern Trust create an integrated securities back office, streamline trade processing, settlement and asset servicing. It will enable Northern Trust to harness data across trade and corporate actions to provide strategically valuable information to their clients.
Jennifer Driscoll, Head of Market Operations at Northern Trust, said, “As liquidity demands continue to drive shortened settlement cycles, it’s critical for market participants to have resilient interoperable solutions that seamlessly integrate with corporate action and income processing. Our partnership with TCS BaNCSTM strengthens our ability to support clients in navigating these evolving market dynamics, ensuring efficiency, accuracy and risk mitigation throughout the trade settlement lifecycle.”
Using the TCS BaNCSTM Global Securities Platform, Northern Trust will be able to further standardize its settlement data and processes, as well as enhance AI and analytics capabilities for both digital and traditional assets. The platform will offer scalability and resilience. In addition to harmonizing global settlement processes, the platform will comply with regional practices using multi-entity, multi-currency, and ISO 15022/ISO 20022 compliant technology.
Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, “We continue to invest in enhancing our integrated technology platforms to help the post-trade industry maximize cloud capabilities, reduce risks, adopt standardized models, leverage harmonized data, and compress settlement timelines. This significant expansion of our relationship with Northern Trust is a testament to our vision for the global securities industry, and a validation of the breadth and depth of capabilities of TCS BaNCSTM that have helped leading global custodians create enriching and consistent client experiences across multiple markets and asset classes.”
The TCS BaNCSTM Global Securities Platform is a SWIFT-certified, scalable, integrated offering with comprehensive functionality encompassing the entire capital market’s value chain. The platform is implemented at leading custodians, investment banks, fund and asset managers and brokers, ensuring consistent customer experience and service level across markets, resting on an advanced data strategy. The platform’s digital core helps customers use the right data to unlock game-changing insights, KPIs and predictions. Its multi-x features include multiple legal entities, languages, business lines, asset classes, markets and geographics from a single application.
Eight of the top 10 custodian firms worldwide and 300 capital market firms run on the TCS BaNCSTM suite of products. The services oriented and event-driven architecture of TCS BaNCSTM also powers real-time exchange operational and reporting data, and enterprise data mesh strategies of financial institutions, helping them monitor risks, comply with regulatory requirements and deploy AI and analytics tools to monetize data insights.
With nearly 46,000 associates across 32 sales, delivery, and data center locations across North America, TCS has a strong presence in the region and is a trusted partner for half of the Fortune 500. It collaborates with universities like Carnegie Mellon to drive innovation and has a new Bringing Life to ThingsTM Lab in Ohio for AI and IoT solutions. In 2025, TCS was named in FORTUNE® Magazine’s list of the World's Most Admired CompaniesTM and is a certified Top Employer in North America by the Top Employers Institute.
About TCS BaNCS
The TCS BaNCSTM universal financial solution is designed to help financial services institutions enhance end customer experience, enabling them to embrace open and innovative technologies that embody true digital customer engagement. Deployed at more than 450 installations worldwide, it is the largest collection of components, enterprise and consumer apps for the financial industry made available through the cloud, helping firms become more agile and intelligent by leveraging the power of new and extended ecosystems. To know more about TCS BaNCSTM, please visit: www.tcs.com/bancs
About Tata Consultancy Services(TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 607,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
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