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PRESS RELEASE
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Core Banking Solution to Drive Growth and Improve Customer Service
Mumbai, December 18, 2013: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, today announced that MyState Limited, an ASX-listed diversified financial Group in Australia, has implemented TCS BaNCS for core banking. The implementation realises further benefits of the merger between MyState and The Rock, a major provider of financial and insurance services to the Central Queensland region. MyState, with an integrated, scalable core banking platform, can now further support its growth opportunities through improved products and services, and simpler, faster business processes and operations.
John Gilbert, Managing Director of MyState Limited, said, “We are delighted to announce that TCS BaNCS has been successfully implemented as it allows us to provide even more competitive products and services to our customers in the future and it forms part of an ongoing business improvement strategy to make our organisation more competitive and pave the way for further growth. These types of large scale technology transformation projects come with significant risks. However, the project team has worked extremely hard and diligently over the last 12 months to ensure the best possible outcome with the minimum amount of disruption to our customers and the meticulous preparation has paid dividends. What MyState and TCS have achieved together to get to this critical milestone, is significant and impressive.”
“At TCS, our single purpose is to make technology simple,“ commented Colin Sword, Country Head, TCS Financial Solutions –Australia and New Zealand. “We are proud of this TCS BaNCS go live with MyState. This has been a swift implementation based on a common sense approach to achieving real business outcomes. Our team looks forward to working with MyState on future projects in order to drive growth and improve customer service.”
MyState Limited is an ASX-listed diversified financial Group formed in September 2009 to effect the merger of MyState Financial Limited (MSF), an authorised deposit-taking institution, and Tasmanian Perpetual Trustees Limited (TPTL), a trustee and wealth management company. MyState acquired The Rock Building Society Limited, based in Rockhampton, in December 2011.
MyState Limited, MSF and The Rock are regulated by APRA and MyState Limited was enabled under Tasmanian legislation to own the authorised trustee company TPT. MSF, The Rock and TPT hold Australian Financial Services Licences issued by ASIC.
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best–of-breed solutions that drive growth, reduce costs, mitigate risk and offer a faster speed-to-market for our clients. With a global customer base of more than 280 institutions operating in over 80 countries, TCS Financial Solutions deliver state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™,recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 285,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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