Societe Generale deploys TCS BaNCS as its asset servicing platform

By Megha Bhattacharya

Tata Consultancy Services (TCS) has announced that Societe Generale Securities Services (SGSS) has deployed TCS BaNCS as its asset servicing platform in Germany, UK, France, Ireland and Luxembourg. It selected the Corporate Actions and Account Management components of TCS BaNCS to build an integrated platform for delivering real-time customer experience across the custody lifecycle.

Mathilde Guerin, Head, Transformation & Technology Delivery, Societe Generale Securities Services, said, “Leveraging the TCS solution and industry knowledge, SGSS has set up a technology platform aiming at providing the highest standard of service to its clients, well adapted to their business development requirements. With this successful deployment, sign of a strengthened cooperation, we offer a comprehensive suite of services, providing 24by7 true multi-entity, real-time processing with quick time to market. With the TCS BaNCS solution being at the forefront of the fintech industry, we provide better user experience to our clients while improving our operational efficiency.”

TCS BaNCS for Corporate Actions offers SGSS with the ability to handle processing across custody and investment banking on the same platform. It also aims to enhance cash payment services via exhaustive real-time position keeping and liquidity management, thus improving the quality of its customer experience.

R Vivekanand, Co-Head, Tata Consultancy Services Financial Solutions, said, “TCS BaNCS for Corporate Actions at SGSS is one of the first integrated asset servicing platforms to provide access to high quality data in real-time. The solution automates and standardizes processes across systems, enhancing throughput and transparency, while reducing risk. TCS BaNCS is also unique in its ability to handle processing across custody and investment banking on the same platform. We continue to invest in our market leading asset servicing solutions to further enhance the experience of our customers.”

Recently, TCS  announced that it will be implementing the Wallets and Rewards solution from Quartz – The Smart Ledgers at UK-based startup Zapaygo in a bid to boost its pre-order mobile ordering and payment platform designed for the entertainment, hospitality and leisure industry.