Scotwest and Capital Credit Unions, UK selects TCS BaNCS Core Banking to transform IT

Mumbai, India - 24 October 2011

Cussco – the joint venture company to address emerging changes in Community Banking.

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organisation, announced today that Scotwest and Capital Credit Unions chose TCS BaNCS Core Banking as their IT platform to transform their infrastructure to address emerging opportunities in Community Banking in the United Kingdom. Cussco - the joint company set up by both these credit unions, will deploy the common platform and support its entire IT architecture throughout the UK to serve its existing customers as well as seek growth avenues, as new regulations open more opportunities in community banking.

While changing the overall experience of customers by offering state-of-the-art banking, this transformation program will help Cussco move into newer geographies and tap into opportunities that open up with the evolving regulations in the UK. Credit unions are constantly seeking ways to quickly enhance their agility at an affordable cost. To that end, TCS BaNCS is hosted on an infrastructure provided by Tata Communications Limited, another Tata Group company.

Outlining their IT strategy, Marlene Shiels, CEO of Capital CU said, “Our new vision is to bring high street banking to our customers in Community banking. To provide the needed relationship-driven customer experience, an agile and flexible core banking platform is essential. We are excited about the winds of change sweeping through this sector and our customers will benefit from this transformation experience”.

Rod Ashley, CEO Scotwest Credit Union said, “To offer competitive and compelling products while retaining the ethos of a credit union is a challenge that can be overcome by using a smart core system like TCS BaNCS. We can now expand our customer base while boosting the overall speed and quality of customer transactions.”

N. Ganapathy Subramaniam, President – TCS Financial Solutions said,” This selection by Cussco is proof point of TCS BaNCS scalability. While serving the needs of the largest banks around the world, TCS BaNCS also can wrap around the needs of niche credit unions and enable them to be agile and competitive. It is my belief that technology is more useful only when it serves a purpose like Inclusive Banking that empowers more people in the society.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development