OREANDA-NEWS. Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, announced that TCS BaNCS was selected as Best Clearing and Settlement Solution at the FTF awards for the year 2014. The awards were given away at the awards Dinner on Horn Blower Yacht in New York City on June 16th.

The FTF News Technology Innovation Awards 2014 are presented by Financial Technologies Forum and FTF News. The purpose of these awards is to celebrate and recognize the financial technology vendors, service providers, industry bodies and regulators that have made significant strides and noteworthy achievements in operational excellence during the year 2013.

“It was a very competitive and record-breaking awards season this year from the nominations process to the close of voting. We had more than 12,000 qualified industry participants involved in the process,” said Maureen Lowe, founder and president of FTF. “It's a clear demonstration of how important and highly regarded the financial technology service, systems and software providers are to their clients and peers. We congratulate TCS BaNCS for achieving the highest form of excellence in Custody category and we look forward to celebrating on June 16th aboard the Hornblower Infinity yacht.”

“The selection process involved industry heads, customers and thought leaders and we are pleased with the FTF award for Best Clearing and Settlement Solution” said Ashvini Saxena, Head of Americas - TCS BaNCS. This is the second award that TCS BaNCS won in the capital markets space in the last 8 months and that is a proof point of the product functionality and customer foot print in North America.”