TCS to drive digital transformation of Envestnet Data

Tata Consultancy Services has partnered with Envestnet Data and Analytics as the latter expands its technology ecosystem, embraces cloud-first data architectures, and continues to bring comprehensive financial wellness solutions more efficiently to its clients.

The partnership with TCS will see both firms collaborate on transformative market opportunities, and co-innovate to bring insights and products that will help global financial institutions deepen client relationships and deliver greater lifetime value. In addition to expanding its core platform and cloud-enabling its data estate, TCS will leverage its cloud capabilities and Machine First™ approach to enhance Envestnet D&A’s technology infrastructure, streamline operations, and increase product innovation.

This partnership will deliver a holistic data platform that aims to transform client experiences across banking, payments, lending and wealth products, enable users to augment current data sets with new data from alternate sources and create insights for potential new portfolio strategies.

Additionally, TCS will leverage its customer-specific contextual knowledge to envision and provide custom-designed analytics solutions to its clients in the banking and financial services industry, leveraging the Envestnet D&A platform.

“Our mission at Envestnet is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. As such, we are pleased to partner with TCS to accelerate our response to the growth opportunities in the marketplace, allowing us to scale our product innovation and be more dynamic in meeting clients’ expectations. This includes helping firms leverage data and analytics to optimize their operations and create more personalized experiences for their customers. TCS’ vast experience in the financial services industry, large-scale transformation experience and leadership in data and analytics will help us to accelerate our growth strategy and deepen customer relationships,” said Farouk Ferchichi, Group President, Envestnet Data and Analytics.

“Using our deep financial experience developed over decades, TCS is helping leading wealth management institutions across the world leverage new technologies to navigate the evolving business landscape, pursue innovation and improve customer experience. We are looking forward to this unique partnership to help Envestnet D&A in their journey towards building a robust ecosystem, accelerating their innovation strategy and driving newer growth opportunities,” said Rakesh Kumar, Business Unit Head – US West, Banking, Financial Services and Insurance, TCS

CT Bureau