Partnership7 Mar 2025, 02:25 am
TCS Expands Collaboration with Northern Trust to Transform Securities Services Offering Across 99 Markets
AI Summary
Tata Consultancy Services (TCS) has signed an expanded deal with Northern Trust, a global financial institution, to centralize and standardize its custody operations across 99 direct and global markets. TCS will deploy its comprehensive TCS BaNCS™ Global Securities Platform for Northern Trust, which has $17.4 trillion of assets under custody and administration as of December 31, 2024. This expansion has strengthened the existing relationship between the two organizations since 2017, with TCS powering the corporate actions and income processing for Northern Trust.
Key Highlights
- TCS will deploy TCS BaNCS™ Global Securities Platform to help Northern Trust streamline securities and asset servicing across 99 markets.
- The partnership has strengthened the existing relationship between the two organizations since 2017.
- TCS will enhance Northern Trust's Al and analytics capabilities for both digital and traditional assets.
- The platform will offer scalability and resilience, and comply with regional practices using multi-entity, multi-currency, and ISO 15022/ISO 20022 compliant technology.
- TCS BaNCS™ Global Securities Platform is a SWIFT-certified, scalable, integrated offering with comprehensive functionality encompassing the entire capital market’s value chain.