TCS rides on AI, big data to pip Infosys in resurgent BFSI space

Within the BFSI segment, TCS witnessed strong traction in areas, including wealth management and compliance services, in the past quarter

Demand is back in the banking, financial services and insurance (BFSI) segment for IT services, but this time, the pattern is different. While traditionally, majority of the large deals in the BSFI space were in areas such as migration of legacy processes to core banking implementation, the newer deals are more front-end with more focus on consumer experience. This is being led by newer technologies such as artificial intelligence, big data & analytics and block chain.

The other reason why the traditional BFSI revenue stream is drying up is that clients themselves are setting up captive operations or global in-house