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The Cumberland manages assets worth £3.2 billion, with a mortgage lending portfolio of £2.6 billion,. Shares of Tata Consultancy Services Ltd ended at ₹3,562.80, up by ₹65.65, or 1.88%, on the BSE.
The country's largest IT services firm, Tata Consultancy Services Ltd (TCS) on Thursday (March 20) said it has partnered with The Cumberland Building Society in the UK to modernise its core banking ecosystem using its proprietary TCS BaNCS for core banking solution.
The transformation will enhance the member experience, mortgage solutions, and operational resilience. Additionally, TCS will integrate TCS Digital Home Lending Solution and Quartz for Compliance to drive innovation and efficiency in Cumberland’s banking operations.
Established in 1850, the Cumberland is among the UK's top 10 building societies. The Cumberland manages assets worth £3.2 billion, with a mortgage lending portfolio of £2.6 billion across 31 branches in Cumbria, Northumberland, Lancashire, and southwest Scotland. The partnership with TCS will help The Cumberland enhance its customer experience and future-proof its banking infrastructure.
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TCS will provide an integrated core banking ecosystem featuring TCS COIN (CoInnovation Network) and the TCS BaNCS Marketplace, enabling the society to adopt cutting-edge third-party solutions. The Cumberland’s customers will benefit from greater flexibility in managing their finances, whether online, by phone, or in-branch.
Des Moore, Chief Executive at The Cumberland, 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."
By integrating TCS solutions and strategic third-party technologies, TCS will provide The Cumberland with a resilient and future-ready ecosystem that leverages open banking and data standards for fraud mitigation, customer communication management, and credit decisions.
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Shares of Tata Consultancy Services Ltd ended at ₹3,562.80, up by ₹65.65, or 1.88%, on the BSE.
(Edited by : Shoma Bhattacharjee)
