19 Regional banks to manage business operations on cloud

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has today announced that Community Savings Bank Association (CSBA) has selected TCS BaNCS on the Cloud as the core banking solution for its member banks across the entire United Kingdom. The vision of CSBA is to have a local network of customer owned, regional banks that create and support wealth creation in local communities.

James M. Moore, Chairman, Community Savings Bank Association, said, “CSBA will introduce a UK-wide network of customer-owned, regional banks in each of the 19 defined regions to serve the everyday financial needs of ordinary people, local community groups, and also support small and medium sized companies. A secure, robust and flexible IT infrastructure is crucial for our operations and TCS BaNCS emerged as the most compelling choice.”

• Sambamurthy, Head, UK & Europe, TCS Financial Solutions, said, “The vision of Community Savings Bank Association is customer-centric wealth creation and a cloud deployment will allow local banks to be nimble in offering tailored products to their customers. TCS BaNCS will enable CSBA to drive both client centricity and implement state of the art digital solutions.”

TCS BaNCS on the Cloud is a digital banking solution designed to meet the market requirements in the UK. The solution is a fully integrated, Omni-channel platform providing banking, cards and payments functions. With the solution CSBA’s member banks will be able to offer full service banking for loans, deposits, mortgages and current accounts. All services are delivered through TCS BaNCS digital channels, branch network and smart kiosks.