Mansfield Building Society in core banking tech overhaul with TCS
UK-based Mansfield Building Society is modernising its software with the help of global tech provider Tata Consultancy Services (TCS).
Mansfield Building Society in tech overhaul with TCS Bancs
The building society will migrate from its on-premise set up to the vendor’s flagship TCS Bancs cloud-based core banking system, as well as the Digital Home Lending solution.
It is understood that the new platform will replace the legacy Mortgage and Savings Suite (MSS), a long-standing solution used by many building societies in the UK, supplied by France-based Sopra Banking Software.
Sopra Banking Software, which owns a diverse portfolio of software products for financial institutions, banks, and lenders in Europe and French-speaking Africa, has recently been acquired by Axway for €330 million.
“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,” comments Iain Lister, Mansfield’s IT executive.
“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.”
Based in Mansfield, Nottinghamshire, the building society’s history dates back to 1870. It ranks 31st by asset size among the 42 building societies in the UK, with assets of £485 million. It has four branches, employs around 70 people, and provides savings, mortgages, insurance, and financial advice.
TCS has been operating in the UK for nearly 50 years and employs 23,000+ people in the UK and Ireland. It provides a broad range of solutions and services to the financial services industry in the region, and counts Nationwide Building Society, London Mutual Credit Union, and Voyager Alliance Credit Union among its clients.
