Envestnet Data and Analytics Business Announces Partnership with Tata Consultancy Services

Rhea-AI Summary

On October 12, 2022, Envestnet (NYSE: ENV) announced a strategic partnership with Tata Consultancy Services (TCS) aimed at enhancing operational scalability and business agility within its Data and Analytics division in Bangalore, India. Effective October 9, 2022, this partnership seeks to leverage TCS's expertise in technology and consulting to better meet client needs. Envestnet aims to accelerate its go-to-market strategy and foster deeper customer relationships as a result of this collaboration.

Positive

• Strategic partnership with TCS to enhance operational scale and business agility.
• Collaboration aims to improve responsiveness to client needs, enhancing service delivery.
• Opportunity for growth and career expansion for Envestnet employees through TCS's resources.

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• None.

BERWYN, Pa., Oct. 12, 2022 /PRNewswire/ -- Envestnet (NYSE: ENV), a leading provider of intelligent systems for wealth management and financial wellness, today announced a strategic partnership between Tata Consultancy Services (TCS) and Envestnet Data and Analytics to increase operational scale and business agility. Through this agreement, TCS, a global leader in technology, consulting, and business solutions, will help globally scale Envestnet's Data and Analytics business located in Bangalore, India with technologies that anticipate client needs.

"We are pleased to partner with TCS to accelerate our response to the growth opportunities in the marketplace, allowing us to gain additional scale and be more dynamic in meeting clients' expectations," said Farouk Ferchichi, Group President, Envestnet Data and Analytics. "TCS will provide our employees with opportunities to grow and expand their careers within an environment that will continue to recognize and value their contributions. As we benefit from the increased scale and agility, we look forward to accelerating our go to market strategy and deepening our customer relationships."

Envestnet's agreement with TCS became effective on October 9, 2022. Further terms of the arrangement were not disclosed.

About Envestnet

Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). Envestnet is Fully Vested™ in empowering advisors and financial service providers with innovative technology, solutions, and intelligence to help make financial wellness a reality for their clients through an intelligently connected financial life. More than 105,000 advisors and over 6,500 companies—including 16 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies—leverage Envestnet technology and services that help drive better outcomes for enterprises, advisors, and their clients. 

For more information, please visit www.envestnet.com, subscribe to our blog, and follow us on Twitter (@ENVintel) and LinkedIn.

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SOURCE Envestnet

FAQ

What is the significance of Envestnet's partnership with TCS?

The partnership enhances Envestnet's operational scale and agility, allowing better responsiveness to client needs.

When did Envestnet's agreement with TCS take effect?

The agreement became effective on October 9, 2022.

What business area will Envestnet and TCS focus on?

They will focus on Envestnet's Data and Analytics business located in Bangalore, India.

How will TCS support Envestnet in their partnership?

TCS will provide technology and consulting solutions to help scale Envestnet's Data and Analytics operations.

Which company does Envestnet partner with for expanding its Data and Analytics capabilities?

Envestnet partners with Tata Consultancy Services (TCS) for this purpose.