New Delhi, April 22 -- Financial services company ICICI Securities on Tuesday partnered with Tata Consultancy Services (TCS) to upgrade its retail trading and brokerage platform.
Through this collaboration, ICICI Securities aims to modernise its technology infrastructure by adopting the Trading solution of TCS BaNCS, and in turn meet the evolving needs of retail investors and support a more seamless and efficient trading experience.
As part of the upgrade, key brokerage functions such as order management, online risk management, and connectivity to major Indian exchanges, including the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and Multi Commodity Exchange (MCX), will be enhanced. TCS stated on Tuesday that the new platform will be designed to provide an intuitive and high-performance trading experience for customers.
The company said that the partnership reflects TCS' continuing role in the capital markets sector, where the company manages close to 30 per cent of retail trading volumes in India.
R Vivekanand, President of BFSI Products & Platforms at TCS, said that transforming ICICI Securities' brokerage platform would not only upgrade its current capabilities but also future-proof it by making it cloud-ready and scalable. He added that the collaboration would further strengthen TCS' leadership in providing technology solutions for capital markets.
TK Srirang, Managing Director and Chief Executive Officer of ICICI Securities, said technology had always been a key pillar of the company's operations. He said that the adoption of TCS BaNCS would enable ICICI Securities to offer a robust, seamless, and high-performance trading ecosystem to its customers.
Srirang added that the partnership with TCS would create a future-ready platform capable of delivering an enhanced trading experience in India's fast-growing brokerage sector.
Last week, TCS partnered with Vianai Systems to offer new Generative Artificial Intelligence (GenAI) tools aimed at improving decision-making for business leaders. As part of the collaboration, TCS customers will have access to Vianai's hila Platform, which enables executives to interact with enterprise data through natural language conversations.
Vianai Systems, a Human-Centred AI platform, was founded in 2019 by Vishal Sikka, the former Chief Executive Officer of Infosys.
Notably, India's largest IT services firm announced its Q4FY25 results. The company reported a 1.69% YoY profit decline (Rs.12,224 crore) but a 5.29% YoY revenue increase (Rs.64,479 crore). The growth has been driven by digital transformation deals. TCS achieved a record-breaking Q4 TCV of $12.2 billion, contributing to a total FY25 TCV of $39.4 billion, primarily fuelled by GenAI and AI-for-IT programs.
Published by HT Digital Content Services with permission from TechCircle.