TCS partners with Cumberland Building Society for modernization

Tata Consultancy Services (TCS) has announced a partnership with The Cumberland Building Society to improve its core banking system. This initiative will use TCS BaNCS, a digital banking solution designed to enhance customer service, mortgage options, and overall efficiency. The Cumberland Building Society has been around since 1850 and is one of the top 10 building societies in the UK. It manages assets totaling £3.2 billion, with a mortgage portfolio of £2.6 billion across 31 branches in northern England and southern Scotland. The new partnership aims to modernize its banking infrastructure and improve customer experience both online and in person. Des Moore, the Chief Executive of The Cumberland, emphasized that this transformation is about more than just technology. He stated that it aligns with their commitment to customers and communities. The goal is to ensure the society remains sustainable for the future. Through this collaboration, TCS will integrate advanced banking solutions that support Open Banking and enhance data protection. Amit Kapur, TCS’s Head of UK & Ireland, expressed excitement about the partnership, highlighting TCS's experience in transforming financial services across the UK. TCS has a strong presence in the UK, working with five of the top ten building societies. It has helped numerous financial institutions modernize their systems and improve operational effectiveness. With a workforce of 24,000 in the UK and Ireland, TCS continues to be a leader in the IT services sector.