Northern Trust has strengthened its collaboration with Tata Consultancy Services (TCS) to modernize its global securities settlement platform. This initiative, part of a multi-year technology transformation program, will enhance Northern Trust’s settlement operations across 99 global markets.

Since 2017, Northern Trust has used TCS BaNCS for corporate actions and income processing. With this expanded partnership, the company will now leverage the TCS BaNCS™ Global Securities Platform, which supports multi-entity, multi-market, and multi-asset class operations. This integration aims to create a unified securities back office, streamlining trade processing and settlements.

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Jennifer Driscoll, Head of Market Operations at Northern Trust, stated: “As liquidity demands accelerate settlement cycles, market participants need robust, interoperable solutions that seamlessly connect with corporate action and income processing. Our collaboration with TCS BaNCS™ strengthens our ability to help clients navigate evolving market conditions, ensuring efficiency, accuracy, and risk mitigation throughout the trade settlement lifecycle.”

By adopting the TCS BaNCS™ Global Securities Platform, Northern Trust will standardize settlement data and processes while enhancing AI and analytics for both digital and traditional assets. The platform offers scalability, resilience, and compliance with global settlement regulations, including multi-entity, multi-currency, and ISO 15022/ISO 20022 standards.

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, commented: “We continue investing in technology to help the post-trade industry leverage cloud capabilities, minimize risks, adopt standardized models, and accelerate settlement timelines. This collaboration with Northern Trust underscores our commitment to transforming the global securities industry and highlights the extensive capabilities of TCS BaNCS™ in delivering consistent and enriched client experiences across markets and asset classes.”

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FAQs

1. How does Northern Trust’s collaboration with TCS improve securities settlement?

The partnership enables Northern Trust to streamline trade processing, enhance AI-driven analytics, and ensure regulatory compliance while improving settlement efficiency and risk management.

2. What benefits does the TCS BaNCS™ Global Securities Platform offer?

The platform provides multi-entity, multi-market, and multi-asset class capabilities, enabling seamless integration of trade processing and corporate action workflows.

3. How does this transformation impact Northern Trust’s global clients?

Clients will benefit from a more resilient and standardized securities settlement system, which enhances transaction accuracy, reduces operational risks, and supports evolving market requirements.

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