TCS to modernize Cumberland Building Society's core banking

Tata Consultancy Services (TCS) has partnered with The Cumberland Building Society in the UK to modernize its core banking ecosystem. TCS will deploy its digital banking solution, TCS BaNCS™ for Core Banking, along with TCS Digital Home Lending Solution, and Quartz for Compliance. This aims to drive innovation and operational efficiency for the Society, which manages £3.2 billion in assets and a £2.6 billion mortgage portfolio across 31 branches. The integrated core banking ecosystem will feature TCS COIN™ and the TCS BaNCS Marketplace, allowing the adoption of third-party solutions. TCS supports five of the top 10 building societies in the UK, with 20 British financial institutions now leveraging TCS BaNCSTM.