TCS BaNCS Securities Processing will provide increased compliance with rules and regulations across markets as set out by Nedbank, enhanced Straight-Through-Processing across all functional areas and markets with minimal user intervention, and economies of scale through reduced system and operational costs, claims TCS.
Further, with a web-based front-end for comprehensive processing, the solution is also expected to provide a richer and convenient user experience while also building customer loyalty.
Nedbank Investor Services general manager Louise Currie said after extensive analysis of various parameters including functional fit, scalability, Service-Oriented Architecture (SOA), compliance and the ability to support the solution in South Africa and other parts of Africa as well, NIS selected the TCS BaNCS suite of products.
"This solution will help us extend our footprint beyond equities and money markets and actively engage in the bonds markets. As market leaders in South Africa, the flexibility and commitment shown by TCS during the entire process of evaluation was a revelation for Nedbank," Currie said.
