Tata Consultancy Services (TCS), a leading global IT Services, Consulting and Business Solutions organization, has been named a Leader in Everest Group's PEAK Matrix'M for Know Your Customer (KYC) and Anti Money Laundering (AML) BPO services.

The report recognized TCS as one of the top two providers in terms of revenue and among the largest market players across major geographies. Everest Group also highlighted TCS BaNCS' KYC and AML modules and high buyer satisfaction in delivery, implementation, and ability to drive customers to greater success, as key strengths.

"Banks and financial institutions are using blockchain and cognitive tools to avert financial crimes and keep up with the dynamic global and regional regulations regarding KYC and AML," said K Krithivasan, Executive Vice President and Global Head, Banking, Financial Services and Insurance, TCS. "This recognition is a validation of our innovation and investments in building comprehensive compliance offerings and transformational capabilities that are powered by our Business 4.0 thought leadership framework, and the resultant market success."

Shares of the company gained Rs 19.7, or 0.98%, to trade at Rs 2,020.20. The total volume of shares traded was 95,853 at the BSE (11.57 a.m., Tuesday).