TCS and Strate join hands for ASP services in SA

by CXOtoday Staff    Oct 29, 2010

DealTata Consultancy Services (TCS), has collaborated with Strate for an ASP (application service provider) initiative. Strate is the licensed Central Securities Depository (CSD) in South Africa. This joint venture, for the TCS BaNCS securities processing solution, is expected to provide leading edge technology to mid-tier players in the South African market.

Commenting on the joint venture, Monica Singer, CEO, Strate, said, “Strate is keen to offer this unique low TCO offering, which will make it possible for more players to participate in the South African market, thereby widening the investor base. We have had a long association with TCS, who have also been the leading Custody solution provider in South Africa.”

“We are now leveraging our relationship and the experience we have of the South African market to provide a unique cloud offering for the mid-tier custodians in the market,” remarked N Ganapathy Subramaniam, president, TCS Financial Solutions.