Tata Consultancy Services Ltd. has inked a deal with Mansfield Building Society, a financial institution based in the United Kingdom, to digitally transform its business.
As part of the agreement, TCS will deploy its state-of-the-art digital banking solution, TCS BaNCS, to transform Mansfield's core banking operations, according to an exchange filing.
The Indian IT firm will also use its Digital Home Lending Solution to "streamline the mortgage value chain, from application to completion and beyond".
Established in 1870, Mansfield is one of the traditional building societies of the UK that have operated as community-led financial institutions.
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TCS' digital transformation plan for Mansfield includes the migration of its digital banking solutions to the cloud and "integrating with best-in-class ecosystem partners to enhance accessibility and efficiency across digital and intermediary channels", a press release noted.
The deal with Mansfield will strengthen the company's presence in the 'building societies' sector of the region, said Amit Kapur, head of UK and Ireland, TCS. This is reinforced by "our strong track record of providing transformative solutions to the credit union and other organisations across the UK," he said.
Shares of TCS were trading 1.66% higher at Rs 4,523.50 apiece on the NSE at 02:20 am., compared to a 0.68% gain in the Nifty 50.
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