 "TCS inks deal with US firm for cloud solutions")
**New Delhi:**The country’s largest softwareservices firm Tata Consultancy Services (TCS) on Tuesday said ithas partnered with Savvis for its ‘BaNCS’ suite of bankingproducts to be offered on a cloud-enabled hosted environmentin North America.
US-based Savvis sells managed hosting and colocationservices. With about 50 data centres in North America, Europeand Asia, it has about 2,500 business and governmentcustomers.
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As part of this agreement, the TCS BaNCS platform will behosted on Savvis’ enterprise-class infrastructure and willinclude solutions for core banking, payments and anti-moneylaundering (AML,) corporate actions and insurance, TCS said ina statement.
No financial details were available.
TCS already offers similar TCS BaNCS-based hostedplatforms in Europe and other parts of the world.
There is a clear trend and greater interest in financialinstitutions seeking managed service offerings.
“Our partnership is a compelling offering for banks,brokerages and insurance companies, who can free themselvesfrom the IT infrastructure and application managementcomplexities, tap into our Software-as-a-Service (SaaS) modeland gain greater operating efficiencies,” TCS President
Financial Solutions N Ganapathy Subramaniam said.
Cloud computing allows storage of data and access tsoftware on a pay-per-use model, helping companies to cut costs as they do not have to invest in infrastructure.
“This move will enable TCS BaNCS’ to enter those marketswhere hosting is desired or required such as mid-sized andsmall banks, which are ripe with opportunities,” said BartNarter, Senior Vice-President Banking, Celent, a research andconsulting firm.
PTI