ICICI Securities, a subsidiary of Indian lender ICICI Bank, has entered into a partnership with Tata Consultancy Services (TCS) to overhaul its retail trading and brokerage platform.
The initiative seeks to strengthen the financial services company’s digital infrastructure by adopting the trading solution from the TCS BaNCS suite.
The deployment of the TCS BaNCS trading system is expected to improve operational agility and streamline the firm’s brokerage processes.
According to TCS, the upgraded trading environment will facilitate better integration with exchanges such as the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and Multi Commodity Exchange (MCX). It will also enhance capabilities in risk management, clearing and settlement, order routing, and customer management.
ICICI Securities MD and CEO TK Srirang said: “At ICICI Securities, technology has always been at its core. By adopting TCS BaNCS we will empower our customers with a seamless and high-performance trading ecosystem. We are delighted to partner with TCS and together we will be creating a future-ready platform for superior customer experience in India’s brokerage sector.”
TCS will deliver a fully integrated trading platform to support ICICI Securities’ end-to-end brokerage services. The move aligns with the financial firm’s broader strategy to enhance the customer trading experience and respond to dynamic market requirements through technological transformation.
TCS BFSI products and platforms president R Vivekanand said: “This partnership with a market leader further extends TCS’ leadership in the capital markets industry and validates our commitment to delivering best-in-class trading solutions.
“By transforming ICICI Securities’ brokerage platform, we are not only enhancing its current capabilities but also future proofing it with cloud readiness, and advanced scalability.”
The TCS BaNCS platform is said to be used by more than 500 financial institutions globally and supports a wide range of functions across banking, insurance, and capital markets. It is offered on the cloud and as a Software-as-a-Service (SaaS) model, allowing financial institutions to adopt flexible and open technology ecosystems.
TCS BaNCS is engineered to optimise mission-critical financial operations while supporting institutions in delivering secure and scalable services to end users.
