TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS) has announced that Maroclear, the central depository (CD) of Morocco, has selected its BaNCS Market Infrastructure to modernise its legacy systems, automate processing and enhance employee productivity.
"This software modernisation will assist Maroclear to reduce risk and enhance confidence in Morocco's securities market," said N Ganapathy Subramaniam, President, TCS Financial Solutions.
"Such a technology transformation will drive new product development opportunities and set new benchmarks in Morocco's growing economy."
TCS BaNCS Market Infrastructure provides a centralized platform for central depository, exchange clearing, registrar and transfer agent services that supports multiple asset classes and access channels.