TCS signs strategic deal to digitally transform UK based Building Society

Tata Consultancy Services (TCS), a global leader in IT services, consulting, and business solutions that operates a global delivery centre in Letterkenny, Co. Donegal in Ireland, 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 BaNCSTM 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 BaNCSTM 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 BaNCSTM 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 centred 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 and Ireland.”

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 and Ireland, where it has been operational for almost 50 years. TCS currently employs more than 23,000 people in the UK and Ireland, making it among the region’s biggest IT employers.