Taskize, an investment operations collaboration platform owned by Euroclear, has joined forces with IT services and consulting giant TCS to embed its exception management tools directly into the TCS BaNCS platform.
The integration allows financial institutions using TCS BaNCS to raise, resolve and track queries relating to exceptions across the trade lifecycle, including corporate actions processing, trade settlement and client service, without leaving the core system.
Contextual data such as ISINs and amounts is automatically pulled into Taskize’s secure, auditable communications, eliminating the need to switch between systems or rely on legacy communication tools. The collaboration follows joint proofs of concept with global custodian banks and is now live.
TCS BaNCS global head of financial solutions Venkateshwaran Srinivasan said, “Financial institutions are increasingly looking to platforms that deliver error-free operations. Our partnership with Taskize brings its exception handling capabilities closer to financial institutions through the TCS BaNCS Marketplace, enabling seamless exception management thereby reducing cost of repair. Together, we are enabling financial institutions to adopt a scalable operating model that supports their transformation goals in an evolving market landscape.”
Taskize CEO Diederik Geeraerts said, “The market is under constant pressure to achieve more with fewer resources, and so finding ways to increase operational efficiency and reduce workloads is a must for leadership teams. Our partnership with TCS and the TCS BaNCS Marketplace provides exactly this, helping operations departments automate unstructured parts of the trade lifecycle and improve workflows that are prone to manual error.”
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