BaNCS Newsletter 16th Edition 1012-1

7/28/2019 BaNCS Newsletter 16th Edition 1012-1

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Experience certainty. IT ServicesBusiness Soluti

Outsourcing

2012 Number 16

-

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

.

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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


4/24


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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

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SIngApOre

hOng kOng

istockphoto


10/24

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


11/2411

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


12/24


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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


15/2415

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

Majo nw ratoy rqimts

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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


17/2417

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


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


19/2419

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


20/2420

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


21/2421

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


22/2422

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.


23/24

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


24/24

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9

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?

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BaNCS Newsletter 16th Edition 1012-1

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