bancs newsletter 16th edition 1012-1
TRANSCRIPT
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Experience certainty. IT ServicesBusiness Soluti
Outsourcing
2012 Number 16
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I : L U U E E E HI E H I L E F I U L UGGE I LY. U E EL U HE H F E L U . E E H UGH HI E H I L H EE HE K E F
U Y, LE E U LE HE K I ELE E HE E . IF I U I E F U EFI IE ,LE E r r t . t . m
.
.
One WOrld,One TOuch
Staa cat Baois
a ioatisi-tostoy mo
Visit us at Stand 4B05
TCS is#2
in FinTec100Raning
Briefng on
regulatory
compliance in
te United States
Credit Union
Australia
deploys
mobile app
SOFGEN joins
TCS BaNCS
Global Cannel
Partner Program
Savvis osts
TCS BaNCS or
Nort American
clientspluS n n n n
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A
t TCS Financial Solutions, we ave a global customer
base o more tan 280 institutions operating in over 80 countries
and spanning te banking, insurance, and capital markets indus-
tries. Te one ting tey all ave in common is an increasing regu-
latory burden.
Weve already seen te ratceting up o capital requirements
in Basel III and te wide-range requirements being nalized and
implemented as a result o te Dodd-Frank Act. In te news we see
proposed restrictions on ig-requency trading in various coun-
tries, and te recommendations o te Liikanen report on reorm-
ing te EU banking sector, wic would ring-ence retail banking
operations away rom oter parts o major banks.
Tese and a number o oter industry regulations are transorm-
ing te business models o te entire nancial services sector.
Some systems ave to be reworked, oters expanded, and oters
discarded.
As you migt imagine, tis presents nancial institutions wit a
considerable operational callenge. Regulatory compliance tends
to generate IT projects wit ig visibility, sort lead times, tigt
budgets and constrained resources. As a result, te same opera-
tions departments entrusted wit maintaining stability and consis
tency are put into te position o aving to manage tremendous
cange initiatives or regulatory purposes even wile elding ur
gent demands rom te business side.
Over te years, TCS as made two major investments to alleviate
te regulatory burdens o our customers.
First, our steady R&D investments into te tecnology arcitec-
ture o TCS BaNCS continues to be a solid pillar o support or nan
cial services rms struggling wit te implications o regulatory
cange. Our exible, rules-based compliance arcitecture enables
rapid canges to business processes and workows, bot reducing
te cost and sortening te time to deployment or compliance-
related projects. TCS BaNCS also as built extensive capabilities in
reporting and analysis o large datasets, and te same tecnolo-
gies tat power our intuitive and insigtul risk management tools
also supply compreensive, accurate and timely inormation to
regulators and auditors.
Second, weve invested in people. Keeping pace wit te year
over-year growt o TCS Financial Solutions in terms o revenues
employees, and client implementations, we ave also continued
Ready or RegulationBy N. Ganapathy Subramaniam, President, TCS Financial Solutions
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to ire experienced banking proessionals wit decades o experi-
ence in te specic regulatory callenges o te regions we serve.
Providing tis expertise to our clients is an important aspect o
service delivery or TCS Financial Solutions, as tis subject-matter
expertise enables us to ensure tat our clients are able to congure
te TCS BaNCS rules engine and workow conguration tools to
best meet ast-canging regulatory requirements.
Tis year, weve taken an additional step to bolster our ability to
deliver compliance expertise to our customers. Troug te TCS
BaNCS Global Cannel Partner Program, weve entered into a se-
ries o alliances wit leading consulting rms around te world.
Some o tese new partners are proled in tis issue o te news-
letter, and tere will be more to come. Tese alliances ensure tat
TCS BaNCS can scale to serve an even larger customer base, wile
ensuring tat customers ave extensive access to local-market ex-
pertise and assistance wit ands-on product conguration. Fur-
termore, we will be collaborating wit our cannel partners on
enricing our product ecosystem based on teir experiences and
client deployments.
Te combination o our investments into R&D and people wit
te growt o our cannel program will ensure a successul uture
or bot TCS Financial Solutions and its customers. In addition to
meeting regulatory compliance mandates, te power and ex
ibility o TCS BaNCS acilitates te creation o new products and
expansion into new markets. Compliance runs in waves, and wen
te current wave recedes, we expect tat TCS BaNCS clients will be
in an excellent position to capture market sare and expand tei
oerings.
Pressured by regulation and competition to transorm teir busi
ness models, te broader nancial services industry as increas-
ingly realized te advantages o our approac. Wit TCS BaNCS
we oer nancial institutions a total solution wit te exibility
to adapt, te scalability to grow, and te cost structure to remain
competitive, all backed by te unparalleled development, delivery
and deployment capabilities o TCS Financial Solutions.
Based on tese advantages, we expect to grow our client base
considerably in te years to come. Tats wy TCS Financial Solu
tions is preparing or a period o tremendous growt and learning
and we greatly look orward to continuing tat exciting journey
togeter wit our customers. n
any place isa banking place
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CONTENTS
2 Ready or RegulationN. Ganapaty Subramaniam describes ow TCS supports compliance eorts
6 One World, One TouchStandard Cartered Bank begins 32-country deployment o single-touc custody solution
11 Book Excerpt rom The TCS Story and beyondS. Ramadorai recounts ow TCS in 1994 won te Standard Cartered deal
12 Finding a Path through the Regulatory MazeMortgage reorm, UDAAP and legal risk in U.S. nancial services
16 FinTech 100 TCS at #2 in 2012 FinTec rankings17 BAI Retail Delivery Potos and igligts rom te October conerence and exibition
18 Gartner Mq TCS named a Leader in International Retail Core Banking
19 CUA Australias largest customer-owned nancial institution launces mobile app
20 SOFGEN IT solution provider joins TCS BaNCS Global Cannel Partner Program
21 Savvis TCS BaNCS to be oered on cloud-enabled osted environment in Nort America
22 News and Events Mozido strategic alliance, TCS BaNCS Strategy Day, and Te Asian Banker Awar
About TCS Financial SolutionsTCS Financial Solutions is a strategic business unit o Tata Consultancy Services. Dedicated to providing business application
solutions to nancial institutions globally, TCS Financial Solutions as compiled a compreensive product portolio under te
brand name o TCS BaNCS. Our mission is to provide best-o-breed solutions tat drive growt, reduce costs, mitigate risk,
and oer a aster speed to market or our customers. TCS Financial Solutions delivers state-o-te-art sotware solutions or te
banking, insurance and capital markets industries worldwide. For more inormation, visit us at www.tcs.com/BaNCS
About Tata Consultancy Services LTD (TCS)Tata Consultancy Services is an IT services, consulting and business solutions organization tat delivers real results to global
business, ensuring a level o certainty no oter rm can matc. TCS oers a consulting-led, integrated portolio o IT, BPO,
inrastructure, engineering and assurance services. Tis is delivered troug its unique Global Network Delivery Model,recognized as te bencmark o excellence in sotware development. A part o te Tata Group, Indias largest industrial
conglomerate, TCS as over 243,000 o te worlds best trained consultants in 42 countries. Te Company generated
consolidated revenues o US $ 10.17 billion or year ended 31 Marc, 2012 and is listed on te National Stock Excange and
Bombay Stock Excange in India. For more inormation, visit us at www.tcs.com
Copyrigt 2012, TCS Financial Solutions. All rigts reserved. No part o tis publication may be reprinted or reproduced witout te written permission rom
te editor. TCS BaNCS newsletter is provided to clients and prospects on a regular basis. TCS Financial Solutions disclaims all warranties, weter expressed or
implied. In no event will TCS Financial Solutions be liable or any damages on any inormation provided witin te magazine. Te inormation is provided to
outline TCS BaNCS general product direction. Te editorial is to be used or general inormation purposes. Te development, release, and timing o any eatures
or unctionality described or TCS Financial Solutions products remains at te sole discretion o TCS Financial Solutions.
From its inception, TCS BaNCS newsletter as been printed on paper rom environmentally responsible sources.
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case
study One World,
One TouchThrough an innovative single-touch custody model,Standard Chartered Bank provides investors and
intermediaries with a direct pipeline into the fast-growing
emerging markets of Asia, Africa, and the Middle East.
By Ramann Bhavani, Program Director, TCS Financial Solutions
S
tandard Cartereds igly distinctive
ootprint covers te astest-growing economies in
Asia, Arica, and te Middle East. Tis unique ootprint
enables te banks clients, including te worlds largest
global custodians, broker-dealers, und managers
and institutional investors, to take part in te rapidly-
expanding range o opportunities in emerging markets.
Notably, eigtened investment activity in
emerging markets is not just driven by inward ows
rom te Organization or Economic Co-operation
and Development (OECD) countries. Were seeing
substantial growt in investment ows between te
emerging markets, says George Nast, Global head
o Product Management or Transaction Banking at
Standard Cartered. historically, emerging-market
clients would invest in OECD markets, but now tere
are many more interesting investment opportunities in
oter emerging markets.
A major callenge or tese investors is deciding ow
best to work wit custodian banks: Weter to coose a
global custodian or ease o management, or to work
wit several local custodians or te speed, reporting
and risk management advantages o direct access.
Selecting a global custodian minimizes te number o
operating models, tecnology platorms, and workows
or cas settlement and cas management wit wic
an investor must interact. Instead o dealing wit 20
dierent custodians in 20 dierent markets, a globa
custodian oers a single window, says Nast. Tats a
very strong proposition, wic is wy global custodian
ave been very successul in capturing investor ows
rom OECD markets into emerging markets.
Te oter approac is to work wit multiple loca
custodians, wic tends to be more direct and
responsive tan te global custodian model because
tere are ewer layers between te investor and te loca
operations sta. Particularly in emerging markets wit
ast-canging regulations, tese direct connections
make a dierence. For example, to understand te
eect o a rule cange upon an investment portolio
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Instead o dealing wit
20 dierent custodiansin 20 dierent markets,a global custodian
oers a single window.George Nast, head o Product Management,
Transaction Banking, Standard Cartered
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casestdy
wit te indirect global custodian model you would ave
to go troug two layers o operations and service sta,
says Nast. Wit te local custodian model, you can deal
directly wit te people and systems in tat market.
In todays investment climate, its extremely difcult to
ave to coose between te two options. Few investors or
intermediaries ave te IT and operations budget to manage
a large number o local custodians. At te same time, te
urgent need or real-time risk management eigtens te
importance o maintaining direct connections wit local
custodians. Te perormance expectations as well as te
duciary expectations in te investment management
industry are iger tan ever, says Nast. Clients demand
relevant, real-time inormation about teir oldings in order
to manage risk, manage cas, and identiy opportunities.
To meet te more-demanding market expectations,
Standard Cartered came up wit te idea or a tird
approac to custody: a single-touc custody model
tat combines te single window o te global custody
model wit all te benets o directly connecting to local
custodians.
In executing upon tis vision, te bank turned to TCS
BaNCS. TCS as a long-standing relationsip wit Standard
Cartered going back to 1994, wen TCS won te deal
to create Standard Cartereds very rst custody system.
Building upon tis partnersip was te natural next step.
Fom Atomatioto Itat Mats
however, as a precondition or implementing single-
touc custody, Standard Cartered and TCS rst ad to
address te risk o costly errors involving corporate actions.
For example, i its a custodians ault tat an investor misses
te opportunity to make an election involving a rigts issue
by a certain date, te custodian would be liable to make te
client wole on wat could be a substantial nancial loss
Moreover, tat custodian would ace te reputational risk o
declining client condence. Mistakes involving corporate
actions are among te biggest operational risks we ace in
tis business, says Nast.
Fortunately, sources o accurate, automated data on
securities in emerging markets ave become more widely
available, and TCS incorporated tose data ows into an
automated workow or Standard Cartered using TCS
BaNCS or corporate actions.
Te TCS BaNCS deployment commenced in late 2009
and was completed in 2011. Since ten, Standard Cartered
as been able to acieve a ull automation rate o over 90
percent or corporate actions across its entire ootprint
an acievement tat elped Standard Cartered and TCS
win Te Asian Banker s prestigious Best Trading Back Ofce
Project Award or 2011.
Moving to over 90 percent end-to-end automation
wic is comparable to wat we see in OECD markets
marks a step-unction cange in service quality and risk
reduction or our clients, says Nast. We ave substantially
reduced te risk o a very labor-intensive, manual process
wit numerous cances or uman error, allowing clients to
receive accurate, automated inormation.
Atop te solid oundation o automated corporate
actions data, Standard Cartered and TCS were ready to
ulll te vision o single-touc custody.
Building a multi-market, single-touc custody solution
calls or ands-on integration in eac o te 32 countries
witin Standard Cartereds ootprint. Te custody project
commenced in late 2010, and tus ar, te updated
single-touc core custody solution as been deployed in
tree markets: te Pilippines, Vietnam, and Singapore. By
te end o 2012, hong Kong will also be live on te new
custody solution. Te remaining markets are sceduled o
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Te updated, single-touc core custodysolution as been deployed in tree markets:
te Pilippines, Vietnam, and Singapore.By te end o 2012, hong Kong will also be
live on te new custody solution.George Nast, Standard Cartered
The phIlIppIneS
vIeTnAM
SIngApOre
hOng kOng
istockphoto
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AT A GLANCECompany: Standard Cartered Bank
headquarters: London
Business Challenge: To create a
single-touc custody model
combining te ease o global
custody wit te benets o local
custody.
Solution:TCS BaNCS or corporate
actions and custody
10
casestdy
We will be te go-to custodian
and te go-to provider o investor accessin Asia, Arica, and te Middle East.
George Nast, Standard Cartered
FAST FACTSl In Cina, Standard Cartered is a leader in te internationalization o te
renminbi (RMB), and expects to reac 100 brances in Cina by early next year.
l In Arica, Standard Cartered currently as over 180 brances in 14 markets, and
won Euromoney Awards or Excellence 2012 or Best Cas Management house
in Arica and Best Flow house in Arica.
l In India, Standard Cartered as almost 100 brances in 43 cities, more tan any
oter international bank.
rollout over te next two years, wit completion sceduled
by te end o 2014.
Te single-touc custody solution as proound
implications or institutional investors, broker-dealers and
global custodians doing business wit Standard Cartered.
Clients operating in our ootprint will ave single-touc
access to any or all o our markets troug a single bundle,
says Nast. We can oer exibility in tailoring a set o
market solution to a client, weter its an investor or an
intermediary, depending on teir needs.
Any investor demanding efcient, transparent, and
seamless integration in emerging markets will nd a
compelling value proposition in te market-leading single-
touc custody services o Standard Cartered. Te
capabilities were rolling out wit TCS BaNCS ave placed
us at te leading edge, says Nast. Tis will cange te
industry.
Guided by te vision o te banks leadersip and aided
by te tecnology o TCS BaNCS, Standard Cartered as
begun to unlock te unparalleled scope and reac o its
global network. We will be te go-to custodian and te go
to provider o market access or our clients across Asia, Arica
and te Middle East, says Nast. Well ave te capabilities
te network, and te integrated service across a variety o
products and unctions tat will make us te leading provide
o investor and intermediary services in our ootprint. n
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By S. Ramadorai, Vice Cairman and ormer CEO, TCS
In 1994, close on te eels o te success o te NSE (National Stock Excange o
India) project, Yaspal Sani, TCS president, eard tat Standard Cartered Bank in
Singapore needed an o-te-sel custody system.
he was very keen or TCS to bid even toug we ad no expertise and no
product in tis area. Te idea beind bidding was not so muc to win
te project, but to register TCS in te minds o Standard Cartered, a
giant in banking. Te project was also signicant because tat year
tere were only one or two projects tat were wort $5 million or more
and tis was one o tem; we tougt it could give us entry into te
big arena. So te TCS team was encouraged to put in a really good bid.
For te Standard Cartered project, eac contender ad to make
presentations over two days. But we were warned tat we could be
sent packing in two ours i we ailed to impress. Wat appened
was tat ater two days o presentations we were sortlisted and a
teen-person team rom Standard Cartered came to Deli to take te
discussions urter. We ad indicated tat we ad 80 percent o te
product completed altoug David Awcock, Standard Cartereds ead
o IT, sensed tat TCS was not quite ready. But e also realized tat our
solution would be more orward looking, so e was ready to take te
risk. Te bid was certainly attractive, te cost was competitive and tebank was open to TCS owning te IPR.
Ultimately we won te Standard Cartered bid, got an entry into
Singapore, and te bank was able to oer custodial services to its
customers in tirty nations. Tis project was our rst major turnkey project in
a major market wit a big name. It was truly a great learning experience.
We ad put in our bid knowing tat te cances o winning were slim, but in te
end we ended up winning. Peraps te customer saw our passion and our readiness
to go te extra mile and was ready to encourage it. Tere are so many intangibles tat
work under te surace but in business interactions, at many times its just about good
vibes and a gut eel.
Excerpted rom The TCS Story And Beyond
(Penguin Books India, 2011)
Good vibes and a gut eel
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Amy Avitable is a nat ionally-recognized expert in regula-
tory compliance and a requent speaker or the ABA, state
bankers associations, and state mortgage associations.
She has authored numerous articles on compliance, and
was the Editor-in-Chie o the renowned Big Orange
Book compliance manual. Previously, Avitable was Na-
tional Director o Compliance at Sheshuno Consulting
+ Solutions and Director o FIS Regulatory Advisory Ser-
vices. She has served the FDIC, Federal Reserve and OCC,
and has engaged in lobbying with Congress and the
Consumer Financial Protection Bureau.
From te oversigt o te Consumer Financial Protec-
tion Bureau (CFPB) to te regulatory overaul under
te DoddFrank Wall Street Reorm and Consumer
Protection Act, nancial institutions in te U.S. ace un-
precedented regulatory complexity, increased risks, and
greater uncertainty.
Te CFPB, a new independent agency autorized by te Dodd-
Frank Act, is responsible or consumer protection in nancial prod-
ucts. As part o its activities, te CFPB provides consumer education,
writes and enorces Federal consumer protection laws, and monitorsnancial markets and products. Wile te CFPBs supervisory autor-
ity over nancial institutions is generally limited to institutions wit
total assets o more tan $10 billion, te agency as oter autority
suc as litigation and investigations tat could aect nancial institu-
tions o all sizes.
In assessing te CFPB and Dodd-Franks eect upon te banking
industry, tere are tree areas o particular concern or nancial in
stitutions:
l Mortgage Reorm
l Unair, Deceptive, or Abusive Acts or Practices (UDAAP)
l Legal Risk
In eac o tese areas, nancial institutions ave to prepare tem
selves or an extended period o difcult canges. Wile tese cang
es wont be easy or anyone in te industry, te degree o difculty o
a nancial institution will be determined in large part by te exibilityo its core banking solution.
Mortgage Reorm
Wit over 5,000 pages o proposed regulations spanning a wide
range o activities in mortgage origination and ser vicing, te CFPB
is undertaking noting less tan a total overaul o te mortgage
process. Collectively, tese canges could rewrite te worklow
or te entire mortgage industry, as well as te risk proiles or
lenders tat continue to operate in te canging regulatory en-
vironment.
Among te proposals, disclosures to consumers tat were previously provided separately i.e., TILA and RESPA disclosures will ave
to be integrated into a combined disclosure sceme. Furtermore
te CFPB as proposed a new calculation o te Annual Percentage
Rate or mortgage loans, complicating tese disclosures as well as
rules tat are triggered by te APR, suc as requirements or ig-
cost and iger-priced mortgages. Tese are not cosmetic canges
tat can be easily xed by tweaks to existing systems, but rater ma
jor cange initiatives requiring ig-level attention rom IT, opera
tions, and management.
Anoter proposed cange would require all consumer real estate
lenders to veriy tat borrowers ave te ability to repay tose loansWile te requirement appears logical enoug on its ace, it exposes
te lender to signicant legal risk i a borrower eventually deaults on
a mortgage loan. A bank tat ails to meet te test may not only ace
te expense o oreclosure and recovery, but also te risk o a lawsui
rom an unappy borrower, plus te possibility o nes or penalties
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briefng
14
rom teir examiners. Tis risk makes it critical or te CFPB to issue
rules tat are understandable, practical, can be applied in a wide vari-
ety o lending scenarios, and contain some mecanism suc as a saearbor to protect te lender. Developing regulations tat meet tese
requirements, wile balancing te needs o consumers and trying to
remain exible enoug to accommodate uture canges in lending
products, as proven exceedingly callenging and extremely contro-
versial or te CFPB.
Altoug it is difcult to predict te impact tat mortgage reorm
under Dodd-Frank will ave on te banking industry, tere is a very
real possibility tat it could ave te cumulative eect o reducing
te number o lenders tat are willing to originate mortgages, in-
creasing costs to consumers, and narrowing te band o acceptable
borrowers. It is also unclear ow te political climate will aect teregulatory environment, toug a cange in te ederal administra-
tion could ave a signicant impact on te direction o te CFPB and
te oter ederal banking agencies. In te meantime, owever, nan-
cial institutions tat wis to keep teir mortgage operations open or
business will need to develop te exibility to comply wit a large
number o new and complex regulations, and modiy teir systems
and operations quickly as examiner expectations and interpretations
o requirements grow and cange.
Unair, Deceptive, or
Abusive Acts or Practices (UDAAP)In te past, te ederal banking regulators ave eld banks respon-
sible or activities tat were deemed to be Unair or Deceptive Acts
or Practices (UDAP). Wile te UDAP scrutiny as increased signi-
cantly over te last ew years, a new wrinkle as developed wit te
CFPBs even broader autority over Unair, Deceptive, orAbusive Acts
or Practices (UDAAP). Wile te legal tests or unair and decep
tive are well establised, te criteria or abusive are ar rom settled
Under te criteria, nancial institutions must not only disclose to aconsumer te material risks, costs, and conditions o a product, but
also eectively veriy in some manner tat a consumer understands
tose elements. Oterwise, enorcing terms and conditions could be
interpreted as an abusive act, as taking unreasonable advantage o
te consumer.
Te callenge wit bot UDAP and UDAAP is tat tey are gener
ally not regulations, wit notice and comment periods and advance
notice o canges tat will ave to be made. Rater, UDAP and
UDAAP are subjective standards tat vary between te regulatory
agencies and examiners. As a result, a nancial institution oten wil
not know wat practices are considered violations until it receivescriticism or a restitution order, or nds out about oter nancial in
stitutions tat ave. Wen tis occurs, an institution as to ave te
exibility to cange its systems quickly, even i te practices tat are
under re ave been ollowed or many years or are common witin
te banking industry.
Legal Ris
Te extremely active legal environment and eigtened legal risk
also contribute to te callenges tat banks ace in tis compliance
environment. Banking compliance lawsuits are increasingly escalat
ed as ig as te Supreme Court, and many o te cases deal witlandmark issues suc as te reversal o hUDs long-eld policy on
carging unearned ees and determining weter disparate impac
discrimination is a valid claim against a lender.
As part o its broad autority, te CFPB as begun participating
in suc litigation troug amicus riend-o-te-court bries, in orde
Asvini Saxena and Amy Avitable,
TCS BaNCS, in brieng wit
Jaroslaw Kapnik, Senior Banking
Analyst at Ovum Group
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to advocate or consumers against practices in te nancial servicesindustry. Te active participation o te CFPB in tese legal proceed-
ings increases te risk o urter systemic cange in te industry, and
could be viewed as eigtening te eeling o pressure and regula-
tory scrutiny against banks. We anticipate tat nancial institutions
will benet rom te ability to respond quickly and efciently to te
rulings as tey are anded down. Te same operational exibility tat
will be required to cope wit mortgage reorm and UDAAP issues will
certainly be useul as te industry continues to evolve in line wit
compliance pressures.
TCS on Your SideAt TCS, regulatory compliance is a priority in everyting tat
we do. We believe tat staying abreast o te expected direction
o regulations will prove to be an important benet or our clients
compliance eorts. We are closely monitoring te regulatory envi-
ronment, not only or specic regulatory requirements but also or
compliance canges tat may arise rom litigation, trends in agen-
cy enorcement, and canging examiner expectations. Furter, we
are working wit state bankers associations around te country to
provide compliance training and updates. Tis industry outreac
enables us to monitor trends in compliance enorcement and inter-
pretations wile elping bankers stay aead o te rapidly cang-ing compliance requirements.
All o our compliance monitoring and eorts eed directly into
TCS BaNCS. Using te parameter-based rules engine o TCS BaNCS,
we can implement many complex canges in te regulations wit-
out te need or signicant system enancements, wic urter
speeds our response time wile lowering te cost o deployment.
By contrast, in-ouse legacy systems and older vendor solutions are
typically difcult to customize or update or even a small number o
canges, let alone te sweeping transormations in workow called
or by te upcoming regulations.
No matter ow torny it gets, our inancial institution clientscan be assured o teir ability to ind a pat troug te maze
o new regulations by drawing upon te lexibility o TCS BaNCS,
te experienced workorce o TCS Financial Solutions, and te un-
matced delivery capabilities o TCS. Tats te beneit o aving
TCS on your side. n
Te pace o regulatory cange is expected toaccelerate over te next two years
Amy Avitable discussed regulatory compliance matter
wit bankers at BAI Retail Delivery in Wasington, D.C
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I T T : L U U E T E TE TH I E H I L E F I U L U E T I LY .U E T EL U T H E T T H F E T L U . E E T H U H T HI E H I L H E E H E KE FU Y , LE E U L E HE K I T E LE E T T HE E . IF I T U T I E F U E F I IE T ,
L E E T T r r t e. e t s.
-
t n s ul t n y r v i s I n t i t y G u i l i n s I n
G ui - sh t v l y si n rv i s , r r t r k t i nyriht t ns ultny rvi s L im it
X X
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.5X
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X X
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X
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.5X
2X
.5X
.75X
X
X
Experience certainty.
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annonceme
nts
Jon Adams,
Executive Editor o
Banking at SourceMedia,
presents te #2 FinTec
ranking to Dennis Roman,
CMO, TCS BaNCS
Vendor 1
TCS
Vendor 2
Vendor 3
Vendor 4
Vendor 5
Vendor 6
Vendor 7
Vendor 8
Vendor 9
Vendor 10
Vendor 11
Vendor 12
13
10
6 6
43
2
2005 2006 2007 2008 2009 2010 2011 2012
TCS
TCS
TCS
TCSTCS
TCS
TCS
TCSmoves upto 2nd placeamong globalproviderso inancial
tecnologyImproves ranking in the FinTech100
or the sixth consecutive year
TCS as been ranked #2 in te FinTec 100, an annua
international listing o te top vertical tecnology vendors as
named by American Banker, Bank Tecnology News and IDC
Financial Insigts. Vendors on te list derive more tan one-tird o
teir revenue rom te nancial services industry.
TCS as moved up rom te #3 position eld last year, and o
te sixt consecutive year, TCS as been ranked among te Top 10
in te FinTec 100, continuing te steady increase in ranking since
te companys appearance at #13 in 2006.
Nearly 45 percent o TCS revenue came rom banking, nancia
services and insurance during te nancial year 2011-12. Te
FinTec 100 ranking is evaluated on te basis o calendar yea
revenues attributed to nancial services.
It is in our DNA to keep our customers at te center o oubusiness, said K. Kritivasan, President, Banking and Financia
Services, TCS. It is our primary ocus to solve customer problems
troug our products and services, and suc rankings urte
reinorce our customers condence in our credentials and enance
our credibility. n
FiT 100 oss si 2006 w TcS joi
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BAIRetail Delivery2012TCS BaNCS highlights rom major banking conerence
At te annual BAI Retail Delivery conerence and exibition
in Wasington, D.C., October 9-11, TCS connected wit bank
executives on new approaces to meeting te callenging
demands o te modern bank.
In a panel session titled Collaboration For Growt New
Approaces To Delivering Tomorrows Products And Services
Today, Asvini Saxena, head o TCS Financial Solutions,
Americas, described ow te exible and agile deployment
models o TCS BaNCS can best meet te needs o U.S.-basednancial services organizations. Saxena outlined several
approaces to deployment or TCS BaNCS and related a
representative success story or eac approac. Also on te
panel was Bob hunt, Senior Researc Director, CEB TowerGroup.
hunt specializes in core banking and transaction processing
systems, and provided te analyst point o view on te topic.
In te BAI Expo and Tecnology Sowcase, TCS gave
bankers in attendance a presentation on te appropriate
solutions in response to increasing regulatory compliance
demands. Te talk, titled Understanding te Common Core
Banking Callenges to Implement a Simplied Transormation
Approac, was led by Sussy Betancourt, Solutions Manager,
and Amy Avitable, Director o Regulatory Compliance, TCS
Financial Solutions. Topics discussed included te common
callenges and key success actors or transormation
and cange programs. n
1 2
3 4
1. Executives rom AmBank Group in Malaysia Coo hwee Ping, Tec-
nology head, Raymond Ng, Business head, and Antony Cin, Program
Director join Asvini Saxena, TCS, Ceryl Barsanti, BAI, and Bob hunt,
TowerGroup.
2. TCS BaNCS team at BAI Retail Delivery
3. Bob hunt and Asvini Saxena present at a panel session
4. Sweekrut Somaraju, Sunil Robert, and Anurag Yadav rom
TCS meet wit Jeanne Capacin, Researc Vice President wit IDC
Financial Insigts
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7/28/2019 BaNCS Newsletter 16th Edition 1012-1
18/24
annonceme
nts
18
The Magic quadrant International Retail Core
Banking report rom Gartner, Inc., has placed TCS in
the Leaders quadrant [*]. TCS BaNCS is one o the 19
core banking platorms that were proled rom an
original list o 36 candidates.
Gartner denes leaders as vendors that demon-
strate strong development methodologies. All o
these vendors have a measurable strategy or disag-
gregating core banking sotware unctionality into
component-based constructs. Many vendors possess
methodologies or uality assurance or are executing
on a strategic road map to attain certication. Most
vendors maintain a strong banking market under-
standing through methodical processes and have
extensive marketing delivery and sales channels.
Although there are many well-balanced vendors /
products in this uadrant, some are in transition and
possess evolving products, process maturity or both.
Commenting on this positioning, N. Ganapathy Sub-
ramaniam, President, TCS Financial Solutions, said: We
believe this report urther afrms our vision and capa-
bility to address pressing problems that the Banking
Industry is currently grappling with, through our prod-
uct suite and people. We will continue to orge ahead
with our promise o delivering certainty throughout all
our customer transormation programs. n
*Gartner, Inc., Magic Quadrant or International
Retail Core Banking, Don Free, September 26, 2012.
Gartner does not endorse any vendor, product or
service depicted in its research publications, and
does not advise technology users to select only
those vendors with the highest ratings. Gartner
research publications consist o the opinions o
Gartner's research organization and should not be
construed as statements o act. Gartner disclaims
all warranties, expressed or implied, with respect
to this research, including any warranties o mer-
chantability or ftness or a particular purpose.
TCS named a Leaderin Analyst FirmsMagic QuadrantGartner International Retail Core Banking 2012 report
evaluates TCS on vision and execution ability
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TCS BaNCS Powershigly-Rated Mobile App
or CUAAustralias largest customer-owned nancial institutionreaches milestone on core banking transormation
In July 2012, CUA, Australias largest
customer-owned nancial institution,
launced CUA Online Banking or Mobile,
available as a ree app or iPone and
Android mobile pones, currently rating 4.5
and 5 stars.
CUA Online Banking or Mobile is te rst
major deliverable in CUAs partnersip wit
Tata Consultancy Services. TCS was selected
in 2011 to deliver CUAs new core banking
system based on TCS BaNCS, as part o a
transormation program expected to be
complete witin two years.
CUAs Cie Executive Ofcer, Cris Witeead, said,
Following te selection o TCS to implement
our core banking system, we also reviewed
TCS BaNCS online banking platorm and
determined it would meet bot te needs
o our business and our customers or te
long-term. Te benet o aving one partner
delivering an integrated tecnology solution also
brings obvious advantages.
Enancing te experience our customers ave
wit our brand and ensuring consistency across all
cannels is a business priority tat is undamental
to our growt strategy. As part o te transormation
program our online banking customers will ave access
to mobile banking applications and a more streamlined,
easy-to-use and visually appealing service wit improved
unctionality and capability, concluded Witeead.
According to Darrin Nortey, CUAs Group General Manager,
Distribution, te launc o CUA Online Banking or Mobile is a
signicant element o CUAs broader strategic priority to enance and
extend its services or customers.
Te launc o CUA Online Banking
or Mobile enables customers to
securely access teir accounts
anytime, anywere tey coose
to perorm te banking
services most requently
used online. It also makes
CUA more accessible to customers
tan ever beore and by te ratings, tey
seem to like it! Nortey said.
CUA Online Banking or Mobile is te rst deliverable in a series o
service enancements tat we will be rolling out to customers over
te coming two years, as part o our core banking transormation
program, e added. Tis program will ultimately deliver a a
superior and streamlined online banking experience.
N. Ganapaty Subramaniam, President, TCS Financia
Solutions, said, In addition to TCS BaNCS Core Banking, ou
team continues to work wit CUA to provide an integrated
retail banking solution tat now includes TCS BaNCS
Online and Mobile Banking sotware. Ultimately TCS
BaNCS will assist CUA in connecting its customers wit
a broad range o products and services including
deposits, loans and payments in a igly interactive
and user riendly mobile banking environment.
Customers can access te ollowing services
troug CUA Online Banking or Mobile:
l View accounts and balances
l View teir last 10 transactions on an account
l Make a payment to a registered biller troug BPAY,
Australias most popular bill payment service
l Make a payment to a registered payee
l Cange teir login password nistockphoto:smartphones
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annonceme
nts SOFGEN Inks
Partnersip wit
TCS BaNCSJoinsTCS BaNCS Global
Channel Partner Program
to expand market outreach
TCS as entered into a global alliance wit SOFGEN
holdings Limited (SOFGEN), an international provider o
IT solutions or banks specializing in retail, private and
commercial banking.
Tis alliance, wic is a part o te TCS BaNCS Global
Cannel Partner Program, will combine SOFGENs global
consulting capabilities in banking wit te internationally
proven strengts o te TCS BaNCS universal banking
suite and delivery/implementation track record. Te Global
Cannel Partner Program expands te ootprint o TCS
BaNCS troug partners tat understand bot banking and
tecnology. SOFGEN will support te TCS BaNCS products
on a global scale, initially ocusing its support on te PMO
area, integration, data migration, testing, ig level audits
and suitability analysis.
Commenting on te partnersip, Tony Ward, Cairman,
SOFGEN Australia and Global head, TCS BaNCS platorm,
said, We are deligted to be a part o te TCS BaNCS
Global Cannel Partner Program. Wit tis alliance, we
will be catering to banks in specic markets tat are keen
to deploy an integrated banking solution. TCS BaNCS as
advanced breadt and dept o unctionality tat is well
complemented by SOFGENs local understanding o te
target markets. Tis combination will present an enduring
and valuable proposition to our joint customer bases.
N. Ganapaty Subramaniam, President, TCS Financial
Solutions said, TCS BaNCS is appy to announce our
partnersip wit SOFGEN. Te rms ric consulting
experience in te banking sector and knowledge o
regional markets will elp us urter grow our international
presence. Our Global Cannel Partner Program will enable
us to collaborate wit like-minded organizations tat can
enric our product ecosystem and deepen our customer
experience.
Founded in 1999, SOFGEN delivers core banking and
related IT solutions to some o te worlds most prestigious
nancial institutions in te areas o retail, corporate and
private banking, as well as micronance. Te SOFGEN
groups 450 employees serve over 170 clients on a variety o
banking platorms rom 20 ofces on 5 continents. n
Tony Ward, CEO, SOFGEN Australia
(standing), Alexander Dembitz,
Cairman o SOFGEN, and
NGS at deal signing
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TCS BaNCS as signed an agreement wit Savvis, a CenturyLink
company (NYSE: CTL) and global leader in cloud inrastructure and
osted IT solutions or enterprises, tat will allow te TCS BaNCS suite
o products to be oered on a cloud-enabled osted environment in
Nort America.
As part o tis agreement, te TCS BaNCS platorm will be osted on
Savvis enterprise-class inrastructure. Te platorm comprises an array
o customer-congurable solutions, including Core Banking, Payments
and Anti-Money Laundering (AML), Corporate Actions and Insurance
covering property and casualty as well as lie and annuities.
TCS leverages its deep experience o providing similar TCS BaNCS-
based osted platorms in Europe and oter parts o te world. Te
oering allows rms to congure teir solution and IT inrastructure
needs tat will deliver on te We manage, you control paradigm,
including improvements or rms on teir cost per business
transaction. Over te last decade, TCS BaNCS as earned a track record
o delivering growt and efciencies to banks o all sizes across te
world, and tis new capability brings added value to its existing and
new customers, especially in Nort America.
Tis move will enable TCS BaNCS to enter tose markets were
osting is desired or required suc as mid-sized and small banks, wic
are ripe wit opportunities, said Bart Narter, Senior Vice-President
o Banking at Celent, a researc and consulting rm. Te buying
dynamics in te Nort American market inge largely on a ull set o
deployment options tat TCS BaNCS can now promise to a nancial
institution.
N. Ganapaty Subramaniam, President, TCS Financial Solutions, said:
We are seeing a clear trend and greater interest in nancial institutions
seeking managed service oerings. In tat context, our partnersip
wit Savvis and te cloud-enabled TCS BaNCS is a compelling
oering or banks, brokerages and insurance companies, wo can
ree temselves rom IT inrastructure and application managemen
complexities, tap into our Sotware-as-a-Service (SaaS) model, and
gain greater operating efciencies.
We strongly believe tat te combination o TCS BaNCS service
osted on Savvis market-leading IT inrastructure will provide
compelling and cost-eective solutions or nancial service
rms, said Vargese Tomas, Global head o Financial Services a
Savvis. Clients will also benet rom our mutually ric experience
in supporting te nancial markets and providing access to an
extensive ecosystem o market participants already resident in Savvi
data centers across te globe.
Savvis, a CenturyLink company, is a global leader in cloud
inrastructure and osted IT solutions or enterprises. Nearly 2,500
unique clients, including more tan 30 o te top 100 companies in
te Fortune 500, use Savvis to reduce capital expense, improve service
levels and arness te latest advances in cloud computing. n
SAVVISto ostTCS BaNCS
in Nort AmericaTCS inks agreement with Savvis to launch
cloud-enabledTCS BaNCShosted ofering in North America
Vargese Tomas, Global head o Financial Services, Savvis, and
Tony Kroell, Vice President, Product Marketing, Savvis
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newsandeve
nts
From let to rigt: Sweekrut Somaraju, TCS Financial Solutions;
Diane Sancez, EVP & President, Global Operations, Mozido;
Asvini Saxena, TCS Financial Solutions; and Manuel Contag,
Vice President, Business Development, LATAM, Mozido
Mozio andTata costay Sis
Establish StrategicAlliance to Globally LaunchMobile Payment Platorm
In April, Mozido and TCS announced a strategic partnersip wic
supports te global expansion o Mozidos unique mobile payment
platorm, including a robust Enterprise Global Cloud Payment Network.
Dallas-based Mozido is a leading global provider o a low-cost, wite-
labeled, cloud-based multi-cannel nancial services (mFS) platorm
or mobile network operators, nancial institutions and retailers. Mozido
customizes and creates multiple and scalable mobile wallet solutions
tat enable consumer packaged goods companies (CPGs), nancial in-
stitutions, mobile network operators, retailers and mercants to deliver
compelling customer experiences to teir own customers.
TCS as enanced Mozidos mobile wallet platorm wit te innova-
tive TCS Mobile Point-o-Sale (mPOS) mobile ceckout solution, cus-
tomer loyalty platorm TCS Rewardz, and te compliance solution o
TCS BaNCS.
Using te complete point-o-sale unctionality o TCS mPOS, Mozido
as launced Mozido Mobile Vault (mVault), addressing te current in-
efcient cas andling logistics tat burden delivery drivers and distribu-
tion networks.
Mozido Mobile Wallet, powered by TCS Rewardz, will oer a ull
suite o transactional unctionalities, suc as bill payment, remittances,
mobile top-up, and payroll deposit, as well as real-time marketing and
redemption, and deep, targeted analytics based on real-time customer
transaction beavior.
TCS BaNCS will also support Mozido wit te TCS BaNCS complian
solution, wic includes robust Anti-Money Laundering tecnology t
implements an intelligent, enterprise-wide, risk- based approac to d
tecting and reporting suspicious nancial activities. Te TCS solution
provided as a osted service on TCS osting inrastructure establised
Nort America togeter wit its inrastructure partner.
Tese dierentiated oerings will enable Mozido to eectively ser
a broad base o consumers--bot banked and unbanked--and conne
tem to te global nancial ecosystem.
Mozidos Cairman, Ricard Braddock, said: Strategic partners
play an essential role in Mozidos global growt strategy. By levera
ing TCS expertise in our ocus sectors o banking and nance, ret
consumer packaged goods, and government/public sector, as well
teir dominant presence in our target regions, Mozido will be able
accelerate our global expansion in an extremely competitive spac
Mozido and TCS global reac will enable tis partnersip to establis
commanding position in te market.
I could not tink o a better strategic partner tan TCS, sa
Diane Sancez, Executive Vice President and President o Glob
Operations, Mozido. By leveraging TCS expertise in multi-cann
retail tecnology and its global presence, Mozido can even mo
eectively serve clients wit a robust suite o transactional payme
and loyalty capabilities.
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Jost hoppermann,
Vice President and Principal Analyst,
Forrester Researc, during visit to
TCS BaNCS Center, Bangalore.
TCS BaNCSStrategy
Day
23
TCS BaNCS deploymentearns accolades romThE ASIAN BANkER
In April, at Te Asian Banker Acievement Awards ceremony eld in con-
junction wit te prestigious Asian Banker Summit 2012 in Bangkok , Maa-
rastra Gramin Bank and C-Edge Tecnologies Ltd were named winners o te
Best ASP-based Programme Award. C-Edge Tecnologies is a joint venture
between TCS and State Bank o India, oering te core banking capabilities o
TCS BaNCS to Rural Regional Banks (RRBs) in India .
Witin te space o 77 days, Maarastra Gramin Bank was able to migrate324 brances to te C-Edge Tecnologies core banking solution. Te deploy-
ment as enabled te bank to realize cost efciencies in IT inrastructure, quick-
er and timely compliance wit regulatory requirements, and te ability to oer
better products and services to customers. n
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UNCOMPLICATE
Banking | Capital Markets | Ins rance
What makes the life of a business head of a capital markets rmchallenging? The easy access to global markets, sophisticatedinvestment tools, growing transaction volumes, new investmentavenues, among many other factors.
At Tata Consultancy Services, we believe that the need of thehour is to Uncomplicate.
And, that these same challenges can be transformed intoopportunities for growth. This demands a time-tested,market-ready and move-as-you-grow solution such as TCSBaNCS. A universal nancial platform, it seamlessly integratesfront-, mid- and back-oce operations of capital marketsbusinesses, any place and any time, while also deliveringenhanced Straight-Through-Processing capabilities. Itscomprehensive multi-asset class, multi-entity solutions helprms implement STP-enabled, scalable processes for custody,brokerage, clearing and settlement, corporate actions andmarket infrastructure operations. From enabling a customer toconsolidate its custody and asset servicing business toprocessing more than 150,000 corporate events annually, tohelping another customer join global stock exchanges in sevenmonths straight, the solution has redened the way rmsoperate. In fact, four out of the top ve securities rms in theworld use TCS BaNCS.
Now, dont you think it is time to uncomplicate?