Through this extended partnership with TCS, SBG sought to upgrade its existing platform using next-generation technologies by 2026.
Tata Consultancy Services (TCS) expanded its partnership with the Standard Bank Group (SBG), a custodian in Africa, to centralise and standardise its custody and securities settlement operations in over 15 markets with the TCS BaNCS Global Securities Processing Platform.
Rajesh Ramsundhar, Head, Investor Services, Standard Bank, said, “Standard Bank is dedicated to transforming the technology landscape in its investor services business, with the objective of having all our critical business operations running in the cloud by 2026. We selected the TCS BaNCS Global Securities Platform to transform our custody and settlement operations with the objectives of offering a unified, consistent, and reliable experience to our customers. The TCS BaNCS Global Securities Processing Platform solution is deployed on a modern tech stack and comes with ecosystem enablers that will help us refine our products and services while ensuring superior operational efficiencies and digital adoption.”
Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, “We are delighted to strengthen our 25-year partnership with the successful deployment of the latest version of TCS BaNCS Global Securities Processing platform at Standard Bank Group. We have been investing substantially in our securities solutions to ensure that they bring the best-in-class processing efficiency and API capabilities to help our customers offer a superior experience to their clients. With this rollout across all their Africa operations, SBG will be able to offer a consistent experience and service level across markets and enable enhanced data strategies.”
Through this extended partnership, SBG sought to upgrade its existing platform using next-generation technologies and streamlining its custody and settlement processes to build greater resilience in its operations by having all its critical business operations running in the cloud by 2026.
