Established in 28 locations worldwide with 4,000 employees, Societe Generale Securities Services (SGSS) is among the top ten global custodians and the 2nd largest in Europe with EUR 3,971 billion of assets under custody.
SGSS provides custody and trustee services, retail custody services, liquidity management, fund administration and asset servicing, fund distribution and global issuer services. Its clients are institutional investors (insurance companies, pension funds, governmental organizations and international organizations), asset managers, financial intermediaries (brokers, investments banks, private banks, commercial banks) and corporates.
SGSS clients work in an increasingly international environment and SGSS was seeking a unique supplier capable of answering all their needs. SGSS wanted a platform to meet their strategic objectives to provide the same corporate action processing, cash management and overall functionality to customers no matter where they are – Germany, Luxembourg, France, Ireland or the UK.
TCS BaNCS was chosen for its corporate actions solution following a competitive RFI/RFP process. The main aim was to help SGSS convert corporate actions from a semi-manual back office activity to efficient straight through processing. The main criteria for selecting the IT solution partner were product coverage, scalability, implementation speed, ability to work collaboratively with Societe Generale teams in France and India as well as being competitive on cost. TCS’ commitment to delivery proved to be crucial over the first phases of the project to keep up momentum behind the project.
Read how SGSS partnered with TCS BaNCS to develop a single international custody platform to provide customers with the same corporate action processing, cash management and overall functionality throughout its pan-European network.