Chorley Building Society, a UK-based mutual building society founded in 1859, has partnered with Tata Consultancy Services (TCS), a global IT services provider, to transform its core banking infrastructure and front-end digital platforms.
The partnership aims to deliver a modern digital experience for Chorley’s Members and mortgage intermediaries. Through this collaboration, the Society will implement TCS BaNCS for Core Banking, TCS Digital Home Lending Solution for Mortgage Origination, and a new mobile application.
Chorley Building Society, which has assets of £406.3m as of February 2024, operates three retail branches in the North-West of England and has maintained its mission to provide personalised financial services for over 165 years. The Society views this transformation as key to its growth, ensuring it delivers value to existing and future Members alike.
Tata Consultancy Services (TCS), a global leader in IT services and digital solutions, brings expertise through its TCS BaNCS platform. TCS’s solutions are tailored to help UK building societies migrate from legacy systems to resilient, intuitive, and customer-friendly digital platforms. TCS has a strong track record in delivering innovative solutions for financial organisations, including building societies and credit unions.
Stephen Penlington, chief executive at Chorley Building Society, said, “We are very proud of our mutual values and our Member-centric approach at Chorley Building Society. It was important to us that we found a partner that could support our ambitious growth plans, whilst sharing our core values. We are delighted to have found this with TCS, who have the technology to deliver our digital transition and share an ethical approach to business.”
Amit Kapur, head of UK & Ireland at TCS, added, “We are delighted to be partnering with Chorley Building Society, bringing our innovative approach and solutions to help them transform and grow. TCS is uniquely positioned to help through its TCS BaNCS for Core Banking and TCS Digital Home Lending Solution, designed to help Building Societies in the UK to seamlessly migrate from legacy systems to a fully functional digital platform.
“This will enable an intuitive and state-of-the-art digital experience for building society members, while ensuring resiliency and availability across multiple channels. Our partnership with Chorley Building Society builds on TCS’s recent success and track record of delivery for building societies, credit unions and other financial organisations in the UK.”
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