Tata Consultancy Services (TCS) has opened a new facility in Singapore as part of its plans to help global banks in the Asia Pacific region with their digital transformation efforts.
Called TCS Singapore Banking and Financial Services (BFS) Centre, the facility will provide a range of application development, digital and IT services. It will house 1,000 employees and replaces the 500-seat centre opened in 2011.
"We are seeing a growing shift of our global banking and financial services clients moving the core elements of their operations to Singapore to be closer to the fast emerging Asia region and to leverage talent and government incentives that give them a global competitive edge," said Girish Ramachandran, President, TCS Asia Pacific. "Singapore is our regional headquarters for our Asia Pacific operations, and we are committed to expand our presence in this market and to assist our global clients."
According to TCS, the banking and finance industry has significantly contributed to its global revenue, with 40 percent of its revenue coming from that sector. The company partners the world's major banks and financial institutions through TCS BFS services and TCS' core banking software suite, TCS BaNCS. In Asia Pacific, TCS has worked with major financial institutions across the 12 countries it operates in.
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