Livemint: March 18, 2015
Mumbai: Tata Consultancy Services Ltd (TCS), India’s largest software services exporter, said on Tuesday that it has expanded its presence in Singapore with the opening of a new 1,000-seat TCS Singapore banking and financial services (BFS) centre.
The new centre replaces a 500-seat centre opened in 2011 and will offer a broader range of services to global banks in the Asia-Pacific region, with a major focus on digital offerings.
“TCS has a long history in Singapore, with operations spanning nearly 30 years, during which we have seen a growing shift of our global banking and financial services clients moving core elements of their operations to Singapore, in order to be closer to the fast emerging Asia region, and to leverage talent and government incentives that give them an global competitive edge,” said Girish Ramachandran, president, TCS Asia Pacific. “Singapore is our regional headquarters for APAC operations, and we are committed to expand our presence in this market and to assist our global clients.”
Globally over 40% of TCS’ revenue comes from the BFS sector. TCS partners with the world’s major banks and financial institutions through TCS BFS services and TCS BaNCS software solutions. In Asia Pacific, TCS has partnered with leading banks and financial institutes across the 12 countries it operates in.
The announcement was made after market hours.
On Tuesday, shares of TCS gained 0.61% to end the day’s trade at Rs.2,580.90 per share, while the benchmark Sensex gained 1.05% to close at 28,736.38 points.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.