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Our Bureau

Bangalore, Aug. 6 TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), is targeting Asia Pacific, West Asia, Africa and Latin America for its financial products suite BaNCS. It has bagged 150 deals in the financial sector, ranging from $5 million to $200 million.

Twenty per cent of these are large ones, between $30 million to $200 million.

At the unveiling of a new facility for the unit in the city on Monday, its President, Mr N.G. Subramaniam, said it is expected to be the growth engine for TCS.

The unit already supports two large banks – SBI and Bank of China.

With a total of 225 customers, it has 35 live installations in fiscal 2007. Eleven new customers were added in the first quarter.

The Bangalore facility will house the product development team and usability labs.

It currently employs 2,700 globally, and will add 500 more during this year, Mr Subramaniam said.

The unit will expand into Tier II cities such as Coimbatore, Nagpur, Kochi, Bhubhaneshwar and Gandhinagar. It has a new executive team with Mr Robert U. Mullen joining as Head of Global Sales and Mr Denni Roman as Chief Marketing Officer.

Mr Mullen will be responsible for driving global sales for BaNCS, while Mr Roman will drive its branding and positioning through a global marketing and communications strategy.

The umbrella brand of BaNCS was created keeping in mind the entry of universal banking.

“Now, it’s about integration, about a single view of the bank to the customer,” said Mr S. Ramadorai, CEO and MD, Tata Consultancy Services. Banking, financial services and insurance segments contribute to over 40 per cent of TCS’ revenue.

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