TCS boosts core banking operations for UK’s credit unions – IBS Intelligence

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R Vivekanand, Co-Head, TCS Financial Solutions

Tata Consultancy Services has announced that two of UK’s credit unions Voyager Alliance Credit Union and its associate entity Retail Credit Union have completed their migration to TCS BaNCS Cloud for Banking solution. The solution is expected to assist the credit unions in boosting their core banking operations and payments offering.

Joe Hegarty, Chief Executive, Voyager Alliance Credit Union, said, “TCS has demonstrated the ability to rapidly deliver transformations and migrations in the UK, in Europe, and around the world. The TCS partnership and a high-performance solution like TCS BaNCS has helped Voyager Alliance migrate from the existing Cornerstone platform within a very short time, providing our customers with a superior experience while ensuring our operational stability. The solution is future-ready as it supports open banking, faster payments and gives us the ability to serve our members better and grow our membership volumes in a short period.”

TCS BaNCS Cloud for Banking is expected to provide digital capabilities to Voyager for the expansion of their range of products and service offerings. The solution comprises API-enabled components in a SaaS model that addresses retail, corporate, private banking and wealth management including digital banking for all segments.

“We are delighted to onboard Voyager Alliance Credit Union and Retail Credit Union on to our platform in record time validating our Digital First, Cloud First architecture, and commitment to the UK Credit Union market,” said R Vivekanand, Co-Head, TCS Financial Solutions. “TCS BaNCS Cloud for Banking is a secure, SaaS-based platform that provides comprehensive functionality and all the capabilities that financial institutions need for growth and transformation in their Business 4.0™ journeys. Our proven onboarding methodology reduces migration risk and delivers speed-to-market.”

The supplier has stated that the credit unions will be provided with accelerated migration from the Cornerstone CUEP platform to the digital banking platform, in record time.

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