CUA appoints TCS BaNCS for online banking platform transformation

23/10/2011

CUA, Australia’s largest customer-owned financial institution, and Tata Consultancy Services (TCS), (BSE: 523540, NSE: TCS) a leading IT services, consulting and business solutions organisation, have announced today that CUA has selected TCS BaNCS Online Banking Platform to revitalise and transform its online banking system.

The selection of TCS to deliver CUA’s online banking platform follows the announcement made earlier in 2011 that TCS and its TCS BaNCS banking platform would be delivering CUA’s new core banking system. The online banking transformation program is expected to be delivered over the next two year period.

CUA’s Chief Executive Officer, Chris Whitehead, said, “Following the selection of TCS to implement our core banking system, we also reviewed TCS BaNCS online banking platform and determined it would meet both the needs of our business and our customers for the long-term. The benefit of having one partner delivering an integrated technology solution also brings obvious advantages.

“Enhancing the experience our customers have with our brand and ensuring consistency across all channels is a business priority that is fundamental to our growth strategy. As part of the transformation program our online banking customers will have access to mobile banking applications and a more streamlined, easy-to-use and visually appealing service with improved functionality and capability,” concluded Mr. Whitehead.

N. Ganapathy Subramaniam, President, TCS Financial Solutions, said, "In addition to TCS BaNCS Core Banking our team is delighted to provide CUA with an integrated retail banking solution that now includes TCS BaNCS Online and Mobile Banking software. TCS BaNCS will connect customers to CUA's broad range of products and services including deposits, loans and payments in a highly interactive and user friendly mobile banking environment. We are confident this transformation program will assist CUA to drive profit with growth.”

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