Tata Consultancy Services (TCS), which provides IT services, consulting and business solutions globally, has entered into a strategic partnership with Mansfield Building Society in the UK to digitally transform its business.
The Indian IT and consultancy firm will deploy its digital banking solution, TCS BaNCS for core banking, along with its digital home lending solution, to enhance member and intermediary experiences and support Mansfield’s growth plans.
Established in 1870, Mansfield Building Society caters to “thousands” of savers in Mansfield, Nottinghamshire, while also offering residential, buy to let and shared ownership mortgages with a “flexible underwriting approach”.
This transformation will see TCS migrating the Building Society’s digital banking solutions to the cloud and integrating with ecosystem partners to enhance accessibility and efficiency across digital and intermediary channels. Members will benefit from a “seamless” experience leveraged through TCS’ digital technologies, data-enhanced decision making, and “innovative” product design.
“TCS BaNCS and TCS Digital Home Lending will provide Mansfield Building Society with a best-in-class and modern banking solution that will help them meet their members’ growing expectations in the online savings and mortgage lending space, while retaining their personal approach which is centered around the customer,” said Amit Kapur, head of UK and Ireland, TCS.
“This partnership strengthens our presence in the building societies sector which is reinforced by our strong track record of providing transformative solutions to the credit union and other organisations across the UK.”
TCS’ solutions will help Mansfield Building Society accelerate the growth of its mortgage and savings customer base by providing a scalable solution that creates efficiency whilst supporting expansion into niche market segments that the Society has identified for growth. TCS stated its tech-enabled solution will also make it easier for both customers and mortgage intermediaries to deal with the Building Society.
