TCS Set To Clinch 150 Financial Product Deals

TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), is targeting Asia Pacific, West Asia, Africa and Latin America for its financial products suite BaNCS. It is currently bidding for at least 150 deals, which are in various stages of being awarded within the next 18 months.

“While some contracts may be finalised at $30 million at the lower end, the bigger ones can go as high as $200 million,” said N G Subramaniam, president, TCS Financial Solutions.

The division has a top line of $170 million (around Rs 690 crore) and currently employs around 2,200 consultants. It is expected to add another 500 by the end of the financial year.

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The unit will expand into Tier II cities such as Coimbatore, Nagpur, Kochi, Bhubhaneshwar and Gandhinagar. Banking, financial services and insurance segments contribute to over 40% of TCS’ revenue.