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TCS DEPLOYES TCS BANCS FOR SOCIETE GENERALE SECURITIES SERVICES

Published on Mar 25, 2021 12:31

Tata Consultancy Services announced that Societe Generale Securities Services (SGSS), a recognized global custodian, has successfully deployed TCS BaNCS as its nextgeneration, multi-entity asset servicing platform in Germany, UK, France, Ireland and Luxembourg.

SGSS was looking for a platform that met its strategic objectives of providing standardized corporate actions processing and cash management services, and consistent customer experiences across their multiple locations in Europe. It selected the Corporate Actions and Account Management components of TCS BaNCS to build an integrated, innovative platform to deliver real-time customer experience across the custody lifecycle.

The new platform is one of Europe`s first real-time and true multi-entity, unified platforms for corporate actions and securities-based cash operations. It has enabled a hub and spoke model, where the core processing is carried out in a highly automated fashion in the central hub, while the spokes are client facing and local. TCS BaNCS for Corporate Actions offers SGSS the ability to handle processing across custody and investment banking on the same platform and enhances cash payment services via exhaustive real-time position keeping and liquidity management. This further improves the quality of its customer experience.

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