Tata Consultancy Services (TCS) announced that the company has been positioned as a Leader in Everest Group’s PEAK Matrix for Open Finance IT Services, via an exchange filing.
According to the report, TCS’ Business 4.0 strategy focusing on the rise of digital technologies across industries drives its Open Finance initiative.
It goes on to talk about the open banking influencer program established within TCS to scale, train and upskill resources.
Cited as a key differentiator is TCS’ dedicated platform for small and medium size customers which is powered by its open finance ecosystem.
The report said that the firm’s investments in partnerships with Azure, AWS and APIGEE enable it to cater to enterprise needs of cloud-hosted API/ microservices platforms.
Also highlighted as strengths are offerings from TCS’ innovation hubs are a reflection of the firm’s alignment to investments in innovation and transformation services.
“With our deep contextual knowledge and experience in leading innovation in Open Banking, TCS delivers tailored solutions to help clients provide superior customer experiences. Our start-up ecosystem and BFSI innovation labs, have been instrumental in creating next generation Open Finance digital offerings that are helping banking, financial services and insurance firms deliver greater value and create competitive differentiation in the market,” said K Krithivasan, President, Banking, Financial Services and Insurance, TCS.
“This recognition as a Leader is a reflection of the breadth and depth of TCS’ expertise in Open Banking and Open Finance and our continuous investment in innovation.”
TCS has expanded its Open Banking strategy—built on the pillars of Comply, Collaborate, and Compete—to Open Finance to take advantage of opportunities arising from the regulatory and market-driven mandates that are changing the banking and financial services industry.
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