Indian tech giant TCS tops the list of global fintech providers

India-based IT services, consulting and business solutions organization Tata Consultancy Services (TCS), has announced that it has been ranked as the top global fintech provider in the 2016 IDC Financial Insights FinTech Rankings Top 100.

According to the official release, TCS has earned the first position for the second consecutive year after being among top 10 rankings for 10 years. IDC Financial Insights FinTech Rankings has crossed 12 years of milestone and the rankings are based on the revenues of leading global technology and services providers to the financial services industry.

“We congratulate TCS for maintaining the number one position on the 2016 IDC Financial Insights FinTech Rankings for the second year. The momentum TCS has shown since the inception of the rankings 13 years ago highlights their success in global financial services technology and commitment to the industry," Karen Massey, senior analyst for banking at IDC Financial Insights said.

The banking, financial and insurance services provided by TCS, continues to grow extensively as companies aim to develop new operating models with a focus on rebuilding profitability, optimizing costs and improving efficiency. TCS BaNCS, a flagship product of TCS, enables transformation in financial services via a superior suite of solutions for banks, capital market companies, and other financial institutions.

"We are honored to be recognized as the top technology provider in the global financial services industry for the second year in a row. This ranking shows that for over a decade, our customers and partners have been valuing and rewarding our commitment, industry expertise and continued investment," Krithivasan, President, Banking and Financial Services, TCS said.