Tata Consultancy Services has strengthened its collaboration with Standard Bank Group (SBG) to centralize and standardize custody and securities settlement operations across 15 markets using the TCS BaNCS global securities processing platform.
The cloud-ready, SWIFT-certified platform covers the entire capital markets value chain, providing comprehensive capabilities for trade processing, clearing and settlement, custody, portfolio accounting and corporate conduct management. The integration of this platform enables SBG to provide its customers with consistent, reliable and efficient services, accelerate innovation and enable the launch of personalized digital products.
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The integrated hosting platform is already operating in seven markets and is expected to be fully implemented in all 15 markets, including South Africa, by March 2024. This allows SBG to accommodate both traditional and crypto assets and simplify the adoption of ISO20022 standards.
However, as of 12:26 pm, the shares were down 0.58% at Rs 3,581.65 on the Bombay Stock Exchange.