Chorley Building Society revamps core banking system with TCS

By Gloria Methri

Chorley Building Society has signed a strategic partnership with Tata Consultancy Services (TCS) to transform its core banking system and front-end digital platforms.

TCS will provide TCS BaNCS for Core Banking, a Digital Home Lending Solution for Mortgage Origination and a mobile app, which will underpin Chorley’s digital transformation and improve the user journey for both Members and mortgage intermediaries.

The Society has announced ambitious growth plans and views this strategic investment in best-in-class modern banking solutions, provided by TCS, as being strategically important to achieve these plans. This business investment is expected to deliver exceptional value to existing and future Members alike whilst retaining their approach centred around the customer.

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, TCS, said, “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.”

Kimberley Roby, Customer Services Director at Chorley Building Society, further added, “We went through an extensive selection process, ensuring that we partnered with a team able to meet our clear requirements and also our mutual values. I am delighted that we have found this with TCS.  We are looking forward to involving our colleagues and Members on this journey together to provide a banking system that is customer-centric and resilient.”