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CUA appoints TCS BaNCS for Online Banking Platform transformation

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organisation, announced today that CUA, Australia’s largest customer-owned financial institution, has selected TCS BaNCS Online Banking Platform to revitalize and transform its online banking system.

The selection of TCS to deliver CUA’s online banking platform follows the announcement made earlier this year that TCS and its BaNCS banking platform would be delivering CUA’s new core banking system. The online banking transformation program is expected to be delivered over the next two years.

CUA’s Chief Executive Officer, Chris Whitehead, said, “Following the selection of TCS to implement our core banking system, we also reviewed TCS BaNCS online banking platform and determined it would meet the needs of both our business and our customers for the long-term. The benefit of having one partner delivering an integrated technology solution also brings obvious advantages. Enhancing the experience our customers have with our brand and ensuring consistency across all channels is a business priority that is fundamental to our growth strategy. As part of the transformation program our online banking customers will have access to mobile banking applications and a more streamlined, easy-to-use and visually appealing service with improved functionality and capability,” concluded Mr. Whitehead.

N. Ganapathy Subramaniam, President, TCS Financial Solutions, said, "In addition to TCS BaNCS Core Banking, our team is delighted to provide CUA with an integrated retail banking solution that now includes TCS BaNCS Online and Mobile Banking software. TCS BaNCS will connect customers to CUA's broad range of products and services including deposits, loans and payments in a highly interactive and user friendly mobile banking environment. We are confident that this transformation program will assist CUA to drive profit with growth.”