Tata Consultancy Services (TCS), India’s largest IT services company, has taken a big step forward by expanding its partnership with Northern Trust, a major global financial institution. The two companies have been working together since 2017, and now, TCS will help Northern Trust simplify and improve its custody operations in 99 markets worldwide.
TCS will achieve this by using its advanced TCS BaNCS Global Securities Platform. This technology will help Northern Trust manage its huge operations more efficiently. Northern Trust handles an incredible $17.4 trillion worth of assets, making smooth and error-free trade processing a top priority.
The new deal will enable Northern Trust to integrate different aspects of its securities operations, including trade settlement and asset servicing. It will also allow the company to use data more effectively, offering valuable insights to its clients.