HDFC Securities partners with TCS for eIBS

Tata Consultancy Services (TCS), a global software and services consulting organization, has announced its partnership with HDFC Securities for implementation of an end to end trading, clearing and settlement solution for the brokerage house, which operates from eleven cities. Some key benefits arising out of this implementation would include streamlining HDFC Securities business processes, expansion of business operations, increasing customer responsiveness and reduction of cycle times for securities processing.

Sunil Shah, MD, HDFC Securities said, "HDFC Securities, in terms of quality of service is on par with the best brokerage houses in the country. We have always believed that IT will bring about a tremendous value addition to a company like ours.

To meet our growing needs and having carefully studied the different aspects of our business that can be enhanced through technology, we decided to replace our existing systems with the TCS eIBS product." He further added, "HDFC Securities would thus be better equipped to serve its clients even more effectively. Speed to market and technology depth are clearly the most important factors we see in aligning our business and technology. This project will help us scale and streamline our operations."

Arjun C Marphatia, Principal Consultant, TCS explained that eIBS offers both a front and back office solution on a single integrated platform covering multiple delivery channels and trading and clearing and settlement in multiple products. eIBS is designed with a sophisticated and parameterizable Risk Management System. A wide range of customizable MIS reports, proactive client management are some of the unique features of the clearing and settlement module.

Cyber News Service