Absa Corporate and Investment Bank selects TCS BaNCS

25 Aug 2022 , 01:34 AM

Tata Consultancy Services announced that Absa Corporate and Investment Bank has selected the TCS BaNCS Global Securities Platform to transform and modernize its investor services offerings and enrich customer experience across the trade and corporate actions lifecycle in South Africa Absa Corporate and Investment Bank is a service leader in the African capital markets industry offering operational and administrative support for both local and global custody to asset managers pension funds stockbrokers global custodians among others As part of its strategic program to transform itself the bank selected the TCS BaNCS Global Securities Platform a next-gen post-trade processing solution The TCS BaNCS solution will be deployed as an integrated front-to-mid-office platform supporting trade management clearing and settlement and hosted on the AWS cloud It will help Absa Corporate and Investment Bank enhance its product offering provide a consistent and seamless client experience significantly increase velocity and reduce risk through extensive use of straight through processing and drive competitive differentiation Further the solution will help the bank enhance operations and drive digital transformation by leveraging the native capabilities of the cloud