LONDON l MUMBAI, June 12, 2018 – Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading
global IT services, consulting and business solutions organization has expanded its agreement with M&G
Prudential, the UK and European savings and investments business of Prudential plc.
The 10 year partnership, which was announced in January 2018, aimed to digitally transform M&G
Prudential’s business and deliver an enhanced service for its UK savings and retirement customers. The
agreement has now been expanded to cover an additional 1.8 million customer policies which will move
from M&G Prudential to TCS, bringing the total number of policies covered by the partnership to 5.8
million, and is worth an additional £500 million ($668 million USD) over the term of the contract.
The expanded partnership further cements TCS’ position as the market leader in UK life and pension
administration, with more than 18 million policies being administered by its BFSI Digital Platform,
powered by TCS BaNCS.
Clare Bousfield, Chief Executive, Prudential UK, said: “As we move towards an independent M&G
Prudential we continue to transform our business to keep pace with the needs of our customers. We are
confident that extending our strategic partnership is the right thing to do. Our customers will benefit
from a better experience, digitally enhanced systems, tools and service, while the colleagues who have
been central to our success in servicing our customers will join a rapidly growing business and have
access to many opportunities that being part of a world leading IT services company can deliver.”
Suresh Muthuswami, President and Global Head, Banking, Financial Services and Insurance Platform,
TCS said Earlier this year, we embarked on a journey to digitally transform and provide an enhanced
service for M&G Prudential customers. We are delighted to have expanded this partnership which will
help accelerate the growth agenda for M&G Prudential. We remain committed to deliver greater speed,
agility and flexibility through our BFSI Digital Platform.”
Shankar Narayanan, Head of UK & Ireland, TCS said We look forward to welcoming M&G Prudential
employees and integrating them into our global workforce. Ranked Britain Top Employer, TCS offers
exciting career opportunities and a supportive environment that helps our employees realize their
potential, while supporting our customers in the UK with a phenomenal talent pool with deep expertise
in Life and Pensions Administration.
Around 400 roles from M&G Prudential across a number of UK sites are expected to be transferred
under the TUPE arrangements to TCS’ FCA-regulated, UK subsidiary. A further 183 roles in India are also
expected to move from M&G Prudential to TCS.
As the fastest growing IT services brand in the world, TCS is one of UK’s largest digital employers and
works in partnership with businesses, the public sector and communities throughout the UK. This year
TCS was recognized as Britain’s Top Employer and as one of world’s best employers by the Top Employer
Institute. TCS has also been named number one for customer satisfaction in the UK by the White lane
Study – one of the country’s largest independent report of IT service providers.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been
partnering with many of the world’s largest businesses in their transformation journeys for the last fifty
years. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology
Services, and engineering. This is delivered through its unique Location Independent Agile delivery
model, recognized as a benchmark of excellence in software development.
A part of the Tata group, Indias largest multinational business group, TCS has over 394,000 of the
world’s best-trained consultants in 46 countries. The company generated consolidated revenues of
US $ 19.09 billion for year ended March 31, 2018 and is listed on the BSE (formerly Bombay Stock
Exchange) and the NSE (National Stock Exchange) in India. TCS proactive stance on climate change
and award winning work with communities across the world have earned it a place in leading
sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability
Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
About M&G Prudential
M&G Prudential is the UK and European savings and investments business of Prudential plc, the global financial services company. On 14 March 2018 Prudential plc announced its intention to demerge its UK & Europe business (Prudential) from Prudential plc, resulting in two separately-listed companies with different investment characteristics and opportunities. On completion of the demerger, shareholders will hold interests in both Prudential plc and M&G Prudential.
M&G Prudential has total assets under management of £351 billion, as at 31 December 2017 and has more than 7 million customers. Over the next five years, M&G Prudential’s shareholders will be investing £250 million of shareholder capital into a series of transformation programmes to create a simple, modern, customer-centric savings and investments business.