Tata Consultancy Services has strengthened its collaboration with the Standard Bank Group (SBG) by centralising and standardising custody and securities settlement operations across 15 markets using the TCS BaNCS Global Securities Processing Platform.
This Cloud-ready, SWIFT-certified platform covers the entire capital markets value chain, offering comprehensive functionality for trade processing, clearing, and settlement, custody, portfolio accounting, and corporate actions administration. The integration of this platform empowers SBG to offer its customers consistent, reliable, and efficient services, accelerating innovation and enabling the introduction of personalised digital products.
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With seven markets already operating from this integrated custody platform, full implementation across all 15 markets, including South Africa, is anticipated by March 2024. This positions SBG to accommodate both traditional and crypto assets, with simplified adoption of ISO20022 standards.
However, the shares were down by 0.58 per cent to ₹3581.65 at 12.26 pm on the BSE.