TCS secures USD 690-million deal from M&G Prudential :TCS Bags Over USD 690 Million Deal From M&G Prudential
New Delhi: India’s largest IT services firm Tata Consultancy Services (TCS) on Tuesday said it has signed an approximately GBP 500 million (USD 690 million) cope with M&G Prudential, the united kingdom and European economies and investments business of Prudential plc.. TCS will alter M&G Prudential’s firm and deliver improved service because of the UK retirement and savings clients
Under the arrangement, TCS will digitally transform M&G Prudential’s business and deliver improved service because of the UK retirement and savings clients, TCS said in an announcement. “The value of this agreement exceeds GBP 500 million (USD 690 million) over 10 years and covers the support of more than million customer coverages,” it added.
TCS has over the past couple of weeks announced a slew of large client wins for example American carriers Trans America (over USD 2 billion), television evaluation dimension firm Nielsen along with British retailer Marks & Spencer. According to a statement by M&G Prudential, the management of over four million life and pensions contracts will probably proceed from Capita (Prudential’s business partner for last ten years) to TCS’ Diligenta. “Around 1,100 Capita roles across a range of UK web sites are expected to be transferred under the TUPE arrangements to Diligenta.
A additional 700 roles in India are also predicted to move from Capita into TCS,” it added. Anyway, roughly 180 full-time jobs in London, Reading and Craigforth will also transfer under the TUPE arrangements from M&G Prudential to TCS, as per the M&G Prudential announcement. John Foley, Chief Executive of M&G Prudentialsaid “Strategic partnerships are still an important part of our five-year want to boost customer outcomes through the GBP 250 million funding investment that our customers are making in the company.” He added that its customers will receive “a better service – day in, day out – consequently, and also our colleagues will be better equipped to provide that service”. Rajesh Gopinathan, CEO and MD in TCS, said the firm will bring its deep domain expertise in BFSI and the formidable listing of handled policy administration to the partnership.
“Additionally, TCS’ BaNCS platform will power digitised front, mid and backoffice operations which will empower M&G Prudential to turn out to be agile and enhance customer experience,” he added. M&G Prudential has total funds under control of GBP 337 billion, also (as on June 30, 20 17) and has over seven million clients. Within the next five years, M&G Prudential’s share holders will likely be investing GBP 250 million of shareholder capital into a set of transformation programmes to generate a simple, modern, customer-centric savings and investments firm.