Tata Consultancy Services (TCS), a global leader in IT services, has partnered with The Cumberland Building Society to modernize its core banking infrastructure. This collaboration will see the deployment of TCS BaNCS™ for Core Banking, TCS Digital Home Lending Solution, and Quartz for Compliance, enabling The Cumberland to enhance customer experience and operational efficiency.
Established in 1850, The Cumberland is among the UK’s top 10 building societies, managing assets worth £3.2 billion and a mortgage portfolio of £2.6 billion. With 31 branches across Cumbria, Northumberland, Lancashire, and southwest Scotland, the society is focused on digital transformation to future-proof its banking services. By leveraging TCS solutions, The Cumberland aims to offer greater flexibility to its customers, whether banking online, over the phone, or in-branch.
TCS will provide an integrated core banking system powered by TCS COIN™ (Co-Innovation Network™) and TCS BaNCS Marketplace, allowing seamless adoption of third-party fintech solutions. This transformation will incorporate Open Banking and Data Standards, strengthening fraud prevention, customer communication management, and credit decisioning.
With a strong presence in the UK for over 50 years, TCS collaborates with 200 leading businesses, including nearly half of the FTSE100 companies. The company has been instrumental in driving digital transformation for financial institutions, with five of the UK’s top 10 building societies and 20 British financial institutions already utilizing TCS BaNCS™.
