London: Tata Consultancy Services, India's largest IT services firm, has been recognised as a global leader in card management and transaction processing by a leading research company.
TCS was recognised as a global leader by Celent, a research and consulting firm focused on the application of information technology in the global financial services industry.
Eight professional services firms, eight issuer processors and eleven packaged software vendors were reviewed
Celent highlighted differences amongst the companies across multiple dimensions such as total revenue in dollars, importance of the financial services segment, cards-related employees, number of cards clients, particular geographic strength and services focus.
The vendors were divided into three categories based on their market presence.
TCS was appreciated for its partnerships with clients across areas of the value chain, key imperatives, card products and functions.
"Companies included in our latest research offer a diverse range of card management and transaction processing solutions and services," said Zilvinas Bareisis, Celent Senior Analyst and the author of the reports.
"TCS has a large and strong cards and payments practice serving many clients around the world, which is why we recognised it as a Global Leader in professional services."
"TCS is proud to be recognised as a global leader in card management and transaction processing by Celent," said K Krithivasan, President of Banking and Financial Services for TCS.
In 2014, Celent kicked off a research effort to understand the landscape of vendors and service providers in card management and transaction processing, with a goal of developing an overview of each vendor's capabilities, focus areas, market presence and looking at the vendors' perspectives on industry trends.