The Weekly Wrap: all you need to know by Friday COB | March 21st

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

Tata Consultancy Services (TCS) has teamed up with The Cumberland Building Society in the UK to upgrade its core banking infrastructure. As part of the partnership, TCS will implement its TCS BaNCS™ for Core Banking, along with TCS Digital Home Lending Solution and Quartz for Compliance, to enhance innovation and operational efficiency.

Founded in 1850, Cumberland is one of the UK’s top 10 building societies, managing £3.2 billion in assets and a £2.6 billion mortgage portfolio across 31 branches in Cumbria, Northumberland, Lancashire, and southwest Scotland. This collaboration will help Cumberland improve customer experience and modernize its banking services.

TCS will provide an integrated core banking ecosystem, including TCS COIN™ (Co-Innovation Network™) and the TCS BaNCS Marketplace, allowing the society to integrate third-party solutions. Customers will gain greater flexibility in managing their finances, whether online, over the phone, or in-branch.

Deals of the week

• Google acquires cloud security firm Wiz in $32bn deal
• SoFi Technologies strikes $5bn loan deal with Blue Owl Capital
• Curve secures $40m to expand digital wallet offerings
• Checkout.com and Tabby partner to offer BNPL in UAE & KSA
• Airwallex partners with Discover to expand payment acceptance
• WealthKernel powers Round Treasury’s automated treasury solution
• NatWest & OpenAI partner to boost AI-powered banking services
• Fiserv acquires CCV to expand Clover platform in Europe
• Deutsche Bank launches Bizum for businesses in Spain
• HitPay integrates India’s UPI to enable seamless payments in Singapore

Be on the lookout for

The IBSi Digital Banking Awards 2025 will take place on April 24, 2025. This prestigious event, organised by IBS Intelligence, celebrates excellence in digital banking, recognizing the most innovative and impactful technology implementations in the industry. The awards honor digital banks, challenger banks, neobanks, and technology providers for their contributions to transforming the banking landscape.

The event will be held at a prominent location, bringing together industry leaders, innovators, and stakeholders to network and share insights. Categories include Impact Achieved, Customer Focus, Innovation in Offering, and Implementation Excellence, among others.

Participants will have the opportunity to showcase their achievements, learn from peers, and gain recognition for their efforts in driving digital transformation. The IBSi Digital Banking Awards 2025 promises to be a significant milestone in the digital banking sector, highlighting the advancements and future possibilities in banking technology.