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The Cumberland Building Society in the UK has collaborated with Tata Consultancy Services (TCS) to overhaul its core banking platform.
Founded in 1850, the building society manages assets worth £3.2bn ($4.15bn) and has a mortgage lending portfolio of £2.6bn ($3.37bn).
The alliance will see the implementation of TCS BaNCS for Core Banking, aiming to enhance operational efficiency.
According to TCS, this is set to “future-proof” The Cumberland's banking infrastructure and improve service flexibility across its 31 branches.
The Cumberland CEO Des Moore said: “This partnership is about more than technology—it’s about aligning with a company that shares our values and commitment to customers, colleagues, and communities.
“For 175 years, our customers have been at the heart of everything we do. Ultimately, this transformation ensures we remain a strong and sustainable Society for the next 175 years.”
TCS's integrated core banking ecosystem, featuring the TCS COIN and the TCS BaNCS Marketplace, will enable The Cumberland to adopt third-party solutions.
This move is expected to provide customers with improved financial management capabilities, accessible online, by phone, or in-branch, according to the tech vendor.
The integration will help leverage Open Banking and Data Standards to reduce fraud risk, as well as support enhance customer communication and credit decisioning processes.
TCS UK and Ireland head Amit Kapur said: “We are delighted to partner with The Cumberland on its ambitious transformation journey.
“Our proven solutions will help create a seamless, flexible digital banking experience and our partnership will reinforce operational resilience and efficiency to support The Cumberland’s continued success.”
TCS has 24,000 employees in the UK and Ireland.
In December 2024, Bank of Bhutan partnered with TCS to enhance its digital banking services by implementing the TCS BaNCS Global Banking Platform.
"The Cumberland taps TCS for core system overhaul" was originally created and published by Retail Banker International, a GlobalData owned brand.
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