BNP Paribas Securities set out to consolidate custody operations. They found a certain way.
BNP Paribas Securities Services (BNP Paribas) is the leading European provider of securities services for fund managers, financial institutions and businesses. To keep pace with the ever-changing sector, BNP Paribas required real-time information in corporate actions. It needed a solution that would facilitate the management of all kinds of corporate events and also automate reporting of these events. Tata Consultancy Services (TCS) implemented the Corporate Actions solution from TCS BaNCS, an integrated product suite for financial services, to consolidate the global and local custody operations onto a single IT platform. As one of the world’s fastest growing technology and business solution providers, TCS enabled a high degree of standardization to upgrade business processes to support higher volumes, and facilitate the processing of 150,000 corporate action events in a year, thus pushing up STP alongside accurate client reporting and scaling up of their business.