TCS Recognized as Leader in GRC Solutions by Chartis Research
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Category Leader in the Chartis RiskTech Quadrant® for Governance, Risk Management, and Compliance (GRC) Analytics, GRC Conduct and Controls, and GRC Model Risk Management (MRM).
In the RiskTech Quadrant for GRC analytics, TCS was positioned in the Leaders quadrant and judged best-inclass based on its breadth and depth of coverage, performance, data management, analytics, reporting and visualization. TCS was named a Leader in the RiskTech Quadrant for MRM solutions for its automation in model validations, model coverage, data management and model inventory management. Additionally, TCS was recognized as a Leader in the RiskTech Quadrant for Conduct and Control Solutions for its quality, flexibility, application and sophistication in performance management. The report considered ease of integration as a key aspect of the solution functionality and TCS’ capabilities were adjudged as best-in-class.
“In the era of emerging business models, changing client profiles, complex ecosystems, and analytics-driven decision-making, Chief Risk Officers require a digitally-enabled, insight-driven and integrated GRC framework that aligns with the emerging business and operating environments to effectively manage risks, drive competitive advantage and realize their growth aspirations,” said K Krithivasan, Business Group Head, Banking, Financial Services, and Insurance, TCS. “This recognition from an independent third-party research firm is a reflection of our capabilities in leading the shift towards an analytics and insights driven GRC function.”
TCS partners with global financial institutions leveraging its rich domain expertise, Machine First™ approach, end-to-end solutions and servicesto drive superior business outcomes, competitive advantage, and growth. TCS’ comprehensive portfolio of financial risk offerings includes risk advisory, risk decision systems and challenger champion frameworks, and help customers in their credit, market, and liquidity risk capability transformations
TCS’ GRC Analytics-in-a-Box offering helps customers manage operational risk, cyber risk, compliance risk and emerging risks such as conduct, AI risks and controls frameworks.
TCS’ Compliance RegTech framework and a suite of RegTech solutions drive human-guided automations in the core compliance value chain and are transforming the compliance function.
Regulatory remediation offerings, enabled by advisory and remediation toolkits, support regulatory remediations and accelerate compliance.
“TCS combines leading-edge technology with pragmatic applications of AI, ML and NLP to deliver effective GRC products, solutions and analytics,” said Sid Dash, Research Director, Chartis. “This approach reflects the wider evolution of GRC into a more analytics-, quantitative- and control-oriented discipline, with multiple points of interaction with operations, IT and analytics.”
“TCS has been a pioneer in developing innovative RiskTech and RegTech solutions for customers. Leveraging these cutting-edge solutions, and our contextual and domain knowledge in the financial services industry, we help customers quickly adapt and thrive in a dynamic business and regulatory environment,” added K Krithivasan.
Nucleus Software’s FinnOne Neo to power South Indian Bank’s retail lending landscape
Nucleus Software, the leading provider of lending and transaction banking products to the global financial services industry, announced that it will empower South Indian Bank, a Kerala based leading Private sector bank in South India, by providing the best in class digital solution offering to revamp the bank’s current retail lending landscape.
“South Indian Bank has always been the numero uno when it comes to customer centric options. With the digitization of the lending process, we will be able to unlock the value that the bank has to offer to the market. As part of our business transformation initiative, we are leveraging technology to focus on areas of MSME & Retail Loans. With Nucleus Software’s expertise, we will be able to diversify the asset portfolio and increase penetration in retail lending in the most efficient manner”, says Mr. Murali Ramakrishnan, MD & CEO, South Indian Bank Limited.
“Nucleus Software is happy to be associated with one of the foremost private banks in the South of India. South Indian Bank is known for its innovation and we are happy to provide them with the technology platform that will make them move their retail lending requirements to a seamless digital offering that is customer friendly, resilient, safe and very efficient”, says Mr. Parag Bhise, CEO, Nucleus Software.
With FinnOne Neo, the bank can focus on launching products such as Home Loans, Loan Against Property (LAP), Loan Against Securities (LAS) and Personal loans with digital first approach followed by various other retail products. The solution will help the bank completely digitize its retail lending process with end to end digital on-boarding, data driven decision making and an integrated landscape, leveraging financial tech and third-party data sources, digital channels of distribution, digitized credit policy, etc.
In addition, FinnOne Neo will help South Indian Bank to stay ahead of the curve by empowering it with cutting-edge technology. The solution will help the bank utilise APIs to integrate with third party solutions which will help speed up digitization of credit decisions of small ticket loans.
FinnOne Neo is the next-generation lending solution built on an advanced technology platform, designed to shape the future of lending across Retail and Corporate sectors. The solution also helps comprehensive loan servicing and sophisticated delinquency management. FinnOne Neo has been designed to meet the challenges of delivering agile and efficient solutions while reducing the cost of operations. With implementations across 50 countries, FinnOne has been recognized as the world’s best-selling lending solution for over 10 years.
Lupin Launches Luforbec® 100/6 µg pMDI, first branded generic alternative to Fostair® 100/6 µg pMDI for treatment of Asthma & COPD, in the UK
Lupin Healthcare (UK) Limited, wholly-owned subsidiary of global pharma major Lupin Limited (Lupin), today announced that following the Medicines and Healthcare products Regulatory Agency (MHRA) approval earlier this year, it has launched Luforbec® (beclometasone/formoterol) 100/6 dose pressurised metered dose inhaler (pMDI), making it available now to patients in the UK, with the potential to offer significant cost savings for the NHS.1,2
Luforbec® is indicated for the treatment of adult asthma and for the symptomatic treatment of severe chronic obstructive pulmonary disease (COPD) (FEV1 <50% predicted normal).3 Lupin is approved to manufacture Luforbec at its sites in Pithampur in India and Coral Springs in the US.
In the twelve months to May 2021, the NHS spent over £177 million on Fostair® 100/6 pMDI.4
UCAS Announces Major Core Technology Contract with Infosys
, a global leader in next-generation digital services and consulting, today announced the signing of a new minimum threeyear contract with UCAS, the admissions service for UK higher education
UCAS and Infosys have enjoyed a successful technology partnership since 2015 but following an extensive tender process the new contract represents a major step change in the relationship, focusing on delivering seamless customer service experiences through greater automation, innovation and efficiency
UCAS provides vital admissions and information services to students, schools, advisers, and higher education providers, offering over 30,000 courses to prospective applicants each year. The service delivers the single biggest infrastructure event within the UK education sector annually on results days every August. UCAS supports approximately 700,000 applicants every year– with 60,000 more this year than in 2020, and current predictions suggesting there will be 1 million applicants to higher education in the UK by 2025.
The partnership between UCAS and Infosys is fundamental to the support and delivery of a professional and stable platform that students and the people advising and supporting them, can rely on when navigating their journey to higher education.
As part of the new agreement Infosys will provide a wide range of digital services that will enable UCAS to further develop the capabilities that connect learners to universities, awarding bodies, schools, and other organisations, built on a dynamic digital suite of systems able to rapidly respond to the evolving UK higher education sector. Infosys will continue to concentrate on helping UCAS achieve its ambitious targets on lowering costs, optimizing, and enhancing services for students, delivering more robust security, and providing business-as-usual (BAU) services between legacy and new digital systems.
Today’s announcement follows UCAS’ busiest Results Day ever on 10th August, with 1.5 million logins registered in UCAS Track (peaking at 2000 logins per second), 182,126 page views on the Career Finder tool, and UCAS teams supporting more than 11,000 students with queries on the phone or via social media. The traffic is the highest volume to UCAS’ systems ever seen on the most important day of the year for UCAS.
ABB expands manufacturing capacity for Low Voltage (LV) motors at its Faridabad facility, powered by renewable energy
The expansion will increase plant capacity by more than 20 percent and will further strengthen ABB’s presence in the region and global markets. The Faridabad facility has been at the forefront of promoting sustainable practices and is adopting renewable energy usage and improving energy efficiency across the plant.
Expanding its current capacity for manufacturing of low voltage motors, ABB has added a new manufacturing line at its Faridabad plant. The new line will develop energy efficient motors up to 55kW for customers operating in different industrial segments such as F&B, water & wastewater, cement, metals and mining, HVAC, textiles, rubber and others. ABB’s LV motors are compactly designed to minimize space and total cost of ownership. Offering greater flexibility to meet specific customer requirements, ABB’s LV motors help in operating critical processes with minimum downtime.
“This expansion further reinforces our commitment to the ‘Make in India’ initiative. The new line will not only meet the growing demands of domestic market, but also help us boost exports to other significant markets like Middle East and Africa. Our state-of-the-art manufacturing facilities will continue to manufacture world-class motors that are reliable and energy efficient.” said Sanjeev Arora, President, ABB Motion India.
As roughly 75% of industrial motors are used to run pumps, fans, and compressors, usage of energy efficient motors play a vital role in reducing energy consumption. ABB is manufacturing Super Premium efficiency motors in India that meet the IE4 standard, which specifies energy losses about 15% lower than those delivered by IE3 motors. These motors are robust, customizable, reliable, and suitable for use in numerous industries and applications, as well as in some of the most demanding conditions.
State-of-the-art facility focused on sustainability
In an endeavor to enable a low carbon society, ABB is continuously working towards achieving RE100 commitment and reduction of carbon footprint at its Faridabad manufacturing unit. In 2020, the unit contributed to 100% CO2 emission reduction (scope 2 emission) through inhouse solar power generation and purchase of energy attribute certificates (IREC). Various energy efficiency improvement activities are carried out in line with EP100 commitment such as adoption of energy efficient lighting, high efficiency IE 3/IE4 motors and enhancement of energy efficiency potential of compressors.
In 2020, ABB had launched a new series of high-output motors for its industrial customers in India with compact design, reducing the overall size of equipment and total cost of ownership. Manufactured at ABB’s Bengaluru and Faridabad factories, the made-in-India motors helped in bolstering ABB’s presence in the domestic market.