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Ten billion dollar baby.

Summary: Tata Consultancy Service, India's largest exporter of software, posted annual revenues of $10.17 billion in FY 2011-12, becoming the first Indian IT company to cross the $10 billion milestone.

Tata Consultancy Service, India's largest exporter of software, posted annual revenues of $10.17 billion in FY 2011-12, becoming the first Indian IT company to cross the $10 billion milestone.

The company's Executive Vice-President, N G Subramaniam, who is in town for MEFTEC that will have the entire financial community under one roof, talks to Khaleej Times about the company's growth, offerings, expectations and innovations.

How has your experience in the Middle East market been?

We have been present in the Middle East market for the last 10 years, providing conventional as well as Islamic banking and financial solutions to enable a superior performance. Middle East and Africa regions have always been a consistent markets for us. We have grown by 32 per cent overall and our growth in MENA region has been very consistent. Middle is a very important market. We have easy opportunities on many fronts. Besides core banking, banks are looking to adopt new changing technology, mobility and real time risk management. Our market ready products cater to all these new needs. We are also looking at providing cloud-technology related, cost-efficient solutions to smaller regional banks, so that the smaller banks can compete with the bigger ones.

What is your product direction for banking, capital market and insurance sectors?

TCS BaNCS, a market ready universal financial platform for banking, capital markets and insurance offered by TCS FS, provides a technology that gives a complete understanding of the financial markets, and enables institutions to grow and be efficient at the same time. As a product BaNCS provides solutions for both conventional as well as Islamic banking. That's one of the biggest advantages that we deliver to our clients.

We also offer an end-to-end platform offering direct market access for investments and connectivity to stock exchanges, maintaining records and managing portfolios. Our product offers both life insurance and general insurance.

In your experience, how has the core banking changed in current times?

All banks are looking to transform their core banking practices to achieve greater efficiency and growth. But they are also laying a greater emphasis on customer experience enhancement. The customers today demand a lot more flexibility and connectivity in their transactions. Our product systematically enhances all these aspects for our clients by providing channel integration. A huge need for channel integration is emerging, which TCS is trying to plug. Today, as reality stands, you can either do a transaction by mobile or Internet or in person at a branch. But the future lies in channel integration, where a customer is in a position to start a transaction on a particular channel, and change in midway if he so chooses. Imagine a scenario where you start a loan application online, when you realise you need to step out for a bit, so you continue the transaction over the phone by calling the call center. And in the afternoon you can visit the branch and complete the transaction. So this kind of flexibility and channel integration is lacking in many banks today. TCS is activity trying to plug this gap for the banks.

TCS is one of the biggest providers of cloud technology for financial institutions. What was your thoughts on the technology?

Cloud is effectively going to change the way technology is consumed by businesses as well as individuals. It is the next wave of adoption. Traditionally, institutions are used to having their own hardware, software and data centres. With cloud technology, they can outsource these functions and leverage the common infrastructure. When you go into a cloud, you also escape the cost of piecing the entire operation together and sourcing the various components such as hardware, software, management and maintenance. You outsource the end-to-end process and enjoy the output. That's the cost effective bit. Another thing is that cloud computing would ensure standardization of processes. Instead of trying to build from scratch, you utilise the already available best practices. This leads to efficiency. The small and medium sized companies are the fastest to adopt cloud technology, for example, most of them use google mail as their mail infrastructure. In the next two to three years, or non-mission critical operations banks will not hesitate to adopt cloud.

But one of the growing concerns about concerns are the security risks. How are you looking at dealing with it?

Security is always a concern, but there are different ways in which you can consume a cloud. There is a private cloud and public cloud. There are solutions to address the issue. When you compare cloud computing to the Internet, the risks are quite the same. There are enough security measure available to make Internet transactions safer. I think the concerns are related to data privacy and database confidentiality. People find it unsettling that their data is saved on another's server. This is where the concept of private cloud steps in, which enables one to pinpoint, isolate and protect your data.


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Publication:Khaleej Times (Dubai, United Arab Emirates)
Date:Apr 25, 2012
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