TCS BaNCS deployed at Colonial First State

TCS BaNCS helped CFS achieve its business objectives - high STP rates, automated corporate actions processing and improved productivity and scalability.

Brad Massey, General Manager, Fund Services, Colonial First State, commented on the implementation and said, “We selected TCS BaNCS for Corporate Actions for its comprehensive functionality and established track record of highly successful deployments. Since the implementation, we have been able to increase productivity, enhance operational efficiency, and reduce risks in our corporate actions processing. TCS BaNCS has helped automate 90% of end-to-end processing for mandatory events and 75% for voluntary events. With our processes and infrastructure now demonstrating increased flexibility, our Bank has definitely become more agile.”

Nick Scott, Vice President, TCS Financial Solutions, said, “We are happy to announce the successful deployment of TCS BaNCS for Corporate Actions at Colonial First State. TCS Financial Solutions’ experience and expertise in addressing challenges related to the financial services market in Australia went a long way towards making this project successful, while we also ensured that best practices in corporate actions processing were deployed at the Bank.”