Australia’s CUA goes live with TCS BaNCS implementation

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Mumbai: Tata Consultancy Services (TCS) today announced CUA, Australia’s largest customer owned financial institution has implemented TCS BaNCS to reengineer its core banking and Online Banking system.

The new solution expands CUA’s capability to deliver more flexible and innovative products and services to customers. TCS BaNCS will also enable CUA to improve internal processes and efficiencies as well as facilitate enhanced customer service.

Commenting on the occasion of going live on TCS BaNCS, Chris Whitehead, CEO of CUA said, “Our new core banking system provides a single integrated approach across all consumer banking products, including transaction banking, lending, mortgages and deposits, as well as online and mobile access. This level of integration is unmatched in the industry in Australia. Such a single enterprise view of the customer is already delivering a better experience for CUA.”

Colin Sword, Country Head, TCS Financial Solutions – Australia & New Zealand, said, “We are pleased to go live with our TCS BaNCS software solution at CUA. TCS BaNCS will assist CUA to automate its banking processes and provide best-in-class customer service, thereby maximizing operational efficiency and reducing operational risk. CUA’s new Online Banking platform will also provide customers with a modern, new look coupled with an easy to navigate online banking experience. Core to this success was outstanding teamwork; I would like to congratulate CUA and the team on this transformation success.”

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. With a global customer base of more than 280 institutions operating in over 80 countries, TCS Financial Solutions deliver state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide.

CUA (previously Credit Union Australia) is a credit union in Australia. CUA is Australia’s largest customer-owned financial institution, serving over 400,000 clients. CUA has 80 branches across the east coast of Australia and in Perth. It provides telephone and internet and SMS banking. The Credit Union affiliates with the rediATM network, which has over 3,400 ATMs nationally.

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