TCS Signs Strategic Deal to Digitally Transform Mansfield Building Society’s Services in the UK

By deploying its proprietary banking platforms such as TCS BaNCS^TM for Core Banking and TCS Digital Home Lending Solution, TCS will enhance Mansfield’s service delivery and improve accessibility and efficiency across digital, physical and intermediary channels

PRESS RELEASE

MANSFIELD | MUMBAI, SEPTEMBER 10, 2024: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has entered into a strategic partnership with Mansfield Building Society in the UK to digitally transform its business. TCS will deploy its state-of-the-art digital banking solution, TCS BaNCS^TM for Core Banking, along with its Digital Home Lending Solution, to enhance member and intermediary experiences and support Mansfield’s ambitious growth plans.

For over 200 years, UK building societies have operated as community-led financial institutions, serving over 26 million people with savings and mortgage offerings. Established in 1870, Mansfield Building Society has a steadfast member-centric philosophy.

TCS BaNCS^TM for Core Banking will accelerate the Building Society’s digital transformation, providing a truly enriched digital experience for members. TCS Digital Home Lending Solution will streamline the mortgage value chain, from application to completion and beyond, ensuring Mansfield Building Society remains customer-centric, operationally resilient, future-ready, and compliant.

Iain Lister, IT Executive, at The Mansfield, said “We pride ourselves on our excellent service and personal approach and, therefore, finding a partner that can support our physical branch operation and provide a state-of-the-art digital experience is critical in ensuring that we meet the needs of all our members now, and in future. After a strenuous selection process, it was clear that there was only one solution which met all our requirements, especially when you consider TCS’ experience of delivering successful transformation programs, their ethical approach to business, and their relationship with existing clients which dovetails well with our mutual ethos and core values.”

This transformation will see TCS migrating the Building Society’s digital banking solutions to the cloud and integrating with best-in-class ecosystem partners to enhance accessibility and efficiency across digital and intermediary channels. Members will benefit from a seamless experience leveraged through TCS’ digital technologies, data-enhanced decision making, and innovative product design.

Amit Kapur, Head of UK & Ireland, TCS said, “We are happy that the Mansfield Building Society has selected us for this transformative program. TCS BaNCS^TM and TCS Digital Home Lending will provide Mansfield Building Society with a best-in-class and modern banking solution that will help them meet their members’ growing expectations in the online savings and mortgage lending space, while retaining their personal approach which is centered around the customer. This partnership strengthens our presence in the building societies sector which is reinforced by our strong track record of providing transformative solutions to the credit union and other organisations across the UK.”

TCS’ solutions will help Mansfield Building Society accelerate the growth of its mortgage and savings customer base by providing a scalable solution that creates efficiency whilst supporting expansion into niche market segments that the Society has identified for growth. This tech-enabled solution will also make it easier for both customers and mortgage intermediaries to deal with the Building Society.

TCS’ partnership with Mansfield Building Society represents a strengthening presence in the financial sector for TCS in the UK, where it has been operational for almost 50 years. TCS works with around half of the FTSE100 and more than 200 of the nation’s best-known businesses, including British Airways, Virgin Atlantic, Aviva, Sainsbury’s, Nationwide, Phoenix Group, M&S, M&G, Asda, Boots, and in fact, TCS is amongst the leading suppliers of software and IT services to the UK market, by revenue. It currently employs more than 23,000 people in the UK and Ireland, making it among the region’s biggest IT employers. TCS has been ranked the number one IT service provider for customer satisfaction in the UK in an independent survey of CIOs at the largest IT spending organizations in the country.

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At a glance

TCS & Manisfield Building Society

TCS' solutions to help Mansfield Building Society

TCS Digital Home Lending Solution

Iain Lister

IT Executive, Mansfield Building Society

Amit Kapur

Head - UK & Ireland, TCS

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile^TMdelivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com

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