Financial Daily from THE HINDU group of publications
Friday, May 26, 2006
Financial Daily from THE HINDU group of publications Friday, May 26, 2006 |
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Banking Info-Tech - Software States - Tamil Nadu Dedicated TCS centre for banking services solutions Our Bureau
CENTRE UPGRADED: Mr R Krishnan (left), Head- Banking Competency Group, TCS, and Mr Ravi Viswanathan, V-P and Head, Chennai Operations, at a press conference in Chennai on Thursday. - Bijoy Ghosh
Chennai , May 25 Tata Consultancy Services has launched a dedicated banking and financial services (BFS) solutions centre in Chennai. According to Mr Ravi Viswanathan, Vice-President and Head of Chennai Operations, TCS, it has converted its Sholinganallur development centre on the Old Mahabalipuram Road into the BFS centre, where it has invested Rs 15 crore. Mr K. Krithivasan, Head, BFS Solutions Centre, said the investment included a Rs 1.2-crore testing lab for automated teller machines and Rs 7 crore for non-IT infrastructure. Mr Vishwanathan told newspersons that there were about 3,200 associates specialising in providing IT services to about 25 clients in the BFS sector from Chennai. About 1,750 more associates would be added during this fiscal for the sector. The centre was a part of the series of strategic moves of the company to focus on specific areas like banking, health, retail and insurance. The centre would also serve the $500-million, five-year deal that TCS won in the last quarter from a US-based financial services company. TCS would hire about 1,200 professionals for the project, he said. According to Mr Viswanathan, the software major would add about 8,000 employees to its existing 15,000 in the city. It is also in the look out for more space to accommodate the increasing number of employees. On an all-India scale, the company planned to end the current fiscal with about 85,000 employees from the present 62,000, he said. Chennai is a key for the growth of TCS and some of the practices, including telecom and BFS. It is also an important destination for investment within the company, he said. Mr Viswanathan said TCS would soon announce a retail solution centre at its Karappakkam facility. The first module of the Rs 200-crore development centre at Siruseri, a suburb on the IT corridor linking Chennai and Mahabalipuram, will be ready by April 2007.
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