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TataConsultancy Services bought the Sydney- based Financial Network services (FNS), a leading Australian core banking solutions vendor for approximately $26 million. The acquisitions of FNS will further strengthen TCS portfolio of banking and financial services products by adding a strong Core Banking Solution with an established global customer base. With its strength in functionality, scalability and robustness, the company feels that FNS Core Banking Solution is capable of adressing the needs of top global retail and corporate banking needs. From a strategic perspective, the FNS acquisition will help TCS in its goal to be an end-to-end solutions provider for the global banking industry. The FNS solution has been successfully positioned in three of Indias major banks as well as customised and implemented at SBI. |
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| Posted : 10/27/2005 |
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