TCS BaNCS platform operational at BNP Paribas

TCS BaNCS Corporate Actions has become operational at BNP Paribas for the Euronext Market.

Tata Consultancy Services (TCS) said that its TCS BaNCS Corporate Actions has become operational at BNP Paribas for the Euronext Market.

“This is a major milestone for BNP Paribas as it helped the bank to consolidate its global and local custody operations to TCS BaNCS platform,” a press release issued here stated.

The implementation was accomplished at a time when BNP Paribas was growing not only globally but in Europe as well,while tackling constantly evolving regulatory and competitive pressures.

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TCS BaNCS Corporate Actions has demonstrated increased operational efficiency and standardisation of processes. In addition,there was a reduction in operational risk and maintenance costs. The solution is also now proven support for global and Euronext Market operations while providing improved client reports,the release said.

BNP Paribas Securities Services’ Head of Banking Services,Alain Pochet,said that “partnering with TCS Financial Solutions allowed us to complete focus on the complex marketplace and leave the integration issues to them. We now operate on a faster,leaner infrastructure that allows us to run our business with agility.”

BNP Paribas Securities Services is a wholly-owned subsidiary of the BNP Paribas group delivering independent flexibility and commitment,backed by the strength of a leading universal bank.

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