TCS, J.P. Morgan extend partnership to enhance corporate actions processing

Tata Consultancy Services (TCS) announced the expansion of its strategic alliance with J.P. Morgan’s Securities Services business. The primary objective is to integrate TCS BaNCS to streamline corporate actions for J.P. Morgan’s Global Custody clients in more than 100 markets. The platform aims for over 90% straight-through processing efficiency, enabling standardized and streamlined operations across various markets.

Real-Time Data Capabilities for Time-Sensitive Investment Decisions

Hannah Elson, Global Head of Custody at J.P. Morgan, revealed the strategic choice behind the move. She said, “We selected TCS BaNCS to assist in further streamlining our corporate actions processing and providing near-real time data to Global Custody clients enabling them to make time-critical investment decisions.”

Tata Consultancy Services expands alliance with J.P. Morgan Securities Services: Deal aims to revolutionize corporate actions processing. Photo courtesy of Rameshng/Wikipedia.org.

A Versatile Solution Adopted by Industry Leaders

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, praised the versatile nature of TCS BaNCS for Corporate Actions. He stated, “The successful adoption at scale of our TCS BaNCS for Corporate Actions solution at a leading custodian like J.P. Morgan is testimony to our solution’s versatility both from a business and a technology standpoint.”

ISO and SWIFT Certified End-to-End Processing

The TCS BaNCS for Corporate Actions platform is already in use by eight of the top 10 custodian firms globally and over 300 capital market firms. It comes with full ISO15022, ISO20022, and DTCC20022 compliance, providing end-to-end automated processing for a wide range of events and financial products, including derivatives, across all global markets. Furthermore, the platform has received the SWIFT Ready label for Corporate Actions, further underlining its robust cap