TCS to provide IT solutions for Deutsche Bank capital mkts biz

TCS will deliver a global application service desk, ITIL (IT Infrastructure Library) services, besides other software solutions, to the bank at locations across seven countries -- the US, UK, Germany, Hungary, Philippines, Singapore and India -- the country's largest software exporter said in a statement.

"Our extensive experience in IT transformation initiatives, industry-leading domain capabilities in financial services and long-term partnership approach allow us to offer superior value to Deutsche Bank as they look to leverage their strong market position," Tata Consultancy Services Banking Industry Solutions Unit Head Ramanamurthy Magapu said.

TCS will partner with Deutsche Bank to migrate to an ITIL-aligned model, aimed at significantly improving service delivery through this framework of best practices that will help the company to be cost-efficient.

Shares of TCS were trading at Rs 1,020.20 on the BSE, down 0.87 per cent from their previous close.