Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has signed an expanded deal with Northern Trust, a global financial institution, to centralize and standardize its custody operations across 99 direct and global markets. TCS will deploy its comprehensive TCS BaNCS™ Global Securities Platform for Northern Trust, which has $17.4 trillion of assets under custody and administration as of December 31, 2024.
This expansion has strengthened the existing relationship between the two organizations since 2017, with TCS powering the corporate actions and income processing for Northern Trust, a top 10 global provider of asset servicing, investment management and wealth management services. TCS will now deploy TCS BaNCS™ Global Securities Platform's multi-entity, multimarket and multi-asset class capabilities to help Northern Trust create an integrated securities back office, streamline trade processing, settlement and asset servicing. It will enable Northern Trust to harness data across trade and corporate actions to provide strategically valuable information to their clients.
Jennifer Driscoll, Head of Market Operations at Northern Trust, said, "As liquidity demands continue to drive shortened settlement cycles, it's critical for market participants to have resilient interoperable solutions that seamlessly integrate with corporate action and income processing. Our partnership with TCS BaNCS™ strengthens our ability to support clients in navigating these evolving market dynamics, ensuring efficiency, accuracy and risk mitigation throughout the trade settlement lifecycle."
Using the TCS BaNCS™ Global Securities Platform, Northern Trust will be able to further standardize its settlement data and processes, as well as enhance AI and analytics capabilities for both digital and traditional assets. The platform will offer scalability and resilience. In addition to harmonizing global settlement processes, the platform will comply with regional practices using multi-entity, multi-currency, and ISO 15022/ISO 20022 compliant technology.
Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS, said, "We continue to invest in enhancing our integrated technology platforms to help the post-trade industry maximize cloud capabilities, reduce risks, adopt standardized models, leverage harmonized data, and compress settlement timelines. This significant expansion of our relationship with Northern Trust is a testament to our vision for the global securities industry, and a validation of the breadth and depth of capabilities of TCS BaNCSTM that have helped leading global custodians create enriching and consistent client experiences across multiple markets and asset classes."
The TCS BaNCS™ Global Securities Platform is a SWIFT-certified, scalable, integrated offering with comprehensive functionality encompassing the entire capital market's value chain. The platform is implemented at leading custodians, investment banks, fund and asset managers and brokers, ensuring consistent customer experience and service level across markets, resting on an advanced data strategy. The platform's digital core helps customers use the right data to unlock game-changing insights, KPIs and predictions. Its multi-x features include multiple legal entities, languages, business lines, asset classes, markets and geographics from a single application.
Eight of the top 10 custodian firms worldwide and 300 capital market firms run on the TCS BaNCS suite of products. The services oriented and event-driven architecture of TCS BaNCS™ also powers real-time exchange operational and reporting data, and enterprise data mesh strategies of financial institutions, helping them monitor risks, comply with regulatory requirements and deploy AI and analytics tools to monetize data insights.
With nearly 46,000 associates across 32 sales, delivery, and data center locations across North America, TCS has a strong presence in the region and is a trusted partner for leading enterprises. It collaborates with universities like Carnegie Mellon to drive innovation and has a new Bringing Life to Things™ Lab in Ohio for AI and IoT solutions. In 2025, TCS was named in FORTUNE® Magazine's list of the World's Most Admired Companies™ and is a certified Top Employer in North America by the Top Employers Institute.
Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3599.70 as compared to the previous close of Rs. 3549.35. The total number of shares traded during the day was 52086 in over 6991 trades.
The stock hit an intraday high of Rs. 3608.95 and intraday low of 3536.15. The net turnover during the day was Rs. 185861219.00. |
