MUMBAI, August 24, 2021: 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-in-class 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 services to 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.