The Bank was able to finalize the outsourcing of all its key Operational Processes to Tata Consultancy Services.

Source: Zawya / 25 January 2012

25 January 2012, Sharjah, UAE: United Arab BankUnited Arab Bank P.J.S.C. ("UABUAB" or "the Bank") announces its financial results for the year ended 31 December 2011.

UABUAB reported an impressive set of financial results that confirmed its status as the UAE's "Bank of the Year", as awarded by the Financial Times Banker magazine of the United Kingdom. By playing an active role in supporting different sectors of the economy, UABUAB has also established itself as the fastest growing bank in the region.

The combined effect of these initiatives enabled UABUAB to increase its total assets beyond AED 10 billion for the first time in its 37 year history. As at 31 December 2011, the total assets reached AED 10.8 billion, a 40% increase over the AED 7.7 billion reported in the previous year. This growth in assets was supported by a by 72% growth in customer deposits in 2011 to reach AED 7.3 billion, compared to AED 4.3 billion in 2010.

To support the rapid growth, a number of strategic projects have been implemented during the year. The Bank was able to finalize the outsourcing of all its key Operational Processes to Tata Consultancy Services, India, whilst the project to implement a new Core Banking system replacing the existing operating platform is nearing completion.

N Chandrasekaran, MD & CEO, Tata Consultancy Services is interviewed by NDTV Profit.

Source: NDTV Profit / 26 January 2012

N Chandrasekaran of TCS says job creation is on top of US president's agenda in an election year. He dismisses Obama's speech on protectionism as a bid to woo voters.

N Chandrasekaran, MD & CEO, Tata Consultancy Services says there will be more actions and speeches, both towards creating jobs and outsourcing but India will continued to play a big part in outsourcing because of the sheer size and skills required by the outsourcing industry.

Here is the complete transcript of N Chandrasekaran's interview with NDTV Profit's Prashant Nair.

Prashant: Apart from the picture perfect scenery, what's the take away…I mean this time around, what's the mood like?

Chandrasekaran: It's the first day so I need to wait for a couple of more days but basically you get to see a lot of things in Davos. You get to meet a lot of people, you get to attend some very important sessions and also you get an opportunity to increase your network. Look at all of that, you get a sense and mood especially… What I am looking at is what people have to say about the euro crisis, the jobless growth in US and overall economy per se.

Mr. Susheel Vasudevan, Vice President & Head of Banking & Financial Services is quoted.
Report Cites TCS's Extensive Portfolio of Proprietary Solutions and Technology Partnerships as Key Leadership Characteristics.

Source: Onesource - Associated Press / 24 January 2012

MUMBAI, India, Jan. 24, 2012 /PRNewswire/ -- Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it has been designated as a Leader in Application Outsourcing (AO) in capital markets by the prominent advisor on the next generation of global services, Everest Group in its report, Application Outsourcing (AO) in Capital Markets - PEAK into the Evolving Service Provider Landscape. Among the attributes that earned TCS the prominent position are its strong customer base, partnerships with capital markets technology vendors, its extensive portfolio of proprietary solutions for capital markets AO delivery and the capital markets related modules of TCS BaNCS.

The report is part of the Everest Group's nine-part series on AO in BFSI (banking, financial services and insurance industry) in 2011. In this research, Everest Group analyzed the capabilities of over twenty of the most important players in the AO industry in global capital markets. The providers were examined through the lens of Everest Group's PEAK (Performance, Experience, Ability, Knowledge) Matrix - a composite index of distinct metrics focused on provider's capability and market success. "TCS is the largest among major offshore AO providers examined in our research and a true industry leader with a strong focus on BFSI and an impressive product portfolio as well as robust technology vendor partnerships," said Amneet Singh, Vice President, Everest Group. "We are pleased to award TCS this distinction." "We are honored to receive the designation of a Leader in AO in Capital Markets by Everest Group - an organization whose research and analysis in the global services industry has and will continue to inform and guide business leaders around the world," said Susheel Vasudevan, Vice President & Head of Banking & Financial Services (UK,Europe, Global Capital Markets) for TCS. "As companies globally streamline their processes by leveraging application management and IT investments, TCS will remain dedicated to providing our customers with the products and solutions that help to meet their goals."

Source: Onesource - Press Trust of India / 23 January 2012

Abstract:
Patna, January 23, 2012 (PTI) -- The Tata Consultancy Services (TCS)-operated server of the trade tax department will become functional from February 10 next for the benefits of traders filing E-return, Deputy Chief Minister Sushil Kumar Modi said today.

The traders will have no problem in filing E-return once the new data base serve becomes functional by February 10 next, he said at a meeting with senior officials of the trade tax department after being informed by the Beltron officials that the application and data base of trade tax has been made available to the TCS for upgradation.

Modi also directed the trade tax officials to make it mandatory for all traders to file E-return from April 2012 and seek email id of the traders so that reminder notices could be sent to them in this regard.

Besides issuing reminders, the trade tax officials should also send SMSes to the traders about their dues on non-payment of which they could be declared as defaulters, the Deputy Chief Minister, who also holds finance portfolio, said.

Source: Factiva - Entertainment Close-Up/22 January 2012

Pegasystems Inc., a company focusing on Business Process Management (BPM) and software for customer centricity, has announced the recipients of the company's annual Partner Excellence Awards at a ceremony during the company's global sales conference yesterday.

The Company said that these awards honor Pegasystems' partner organizations that drive customer success by delivering solutions that increase customers' agility and competitive edge.

Excellence in Market Development - Tata Consultancy Services.

Tata Consultancy Services (TCS) is one of the big private sector IT vendors participating in this process.

Source: The Economic Times / 22 January 2012

The government, helped by companies such as TCS, is saying goodbye to paper files bound by the infamous red tape. 2017 is the deadline for full transition to e-files. Not all babus are happy. But they can't stop the change.

Red tape-bound government paper files rank right up there, alongside poverty and potholes, when it comes to stereotyping India.

Here's the surprising good news. Those colour-coded files bound with thread, many of which are lying forgotten in some dusty old cupboard, will soon become history. North Block, South Block and a lot of babudom in between and around these two edifices are on a mission to switch to 100% e-filing by 2017. In officialese, that's the end of the Twelfth Five-year Plan.

Tata Consultancy Services (TCS) is one of the big private sector IT vendors participating in this process.

Mr.N.Chandrasekaran, CEO TCS is quoted.

Source: Factiva - DNA Money/20 January 2012

Abstract:
Europe continues to be in the throes of a severe debt crisis, but that doesn't seem to be a deterrent for Indian IT biggies seeking a wider footprint in the market.

TCS, India's largest IT solutions player, appears to have a headstart here.

For the record, Europe accounts for around 26% of the total revenues of TCS.

N Chandrasekaran, CEO, TCS, has reason to be upbeat. "The company is seeing deal closures in Europe, which essentially means there will be good growth in coming quarters," he had said during the third quarter results announcement on Wednesday.