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Tata Consultancy Services said on Thursday that Nedbank Investor Services (NIS), a division of Nedbank Ltd, has selected the TCS BaNCS suite of products to replace its securities and custodial applications.
Financial details pertaining to the deal were not disclosed. Ms Louise Currie, General Manager, Nedbank Investor Services, said, “After extensive analysis of various parameters including functional fit, scalability, Service-Oriented Architecture, 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.”
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