Mansfield Building Society strikes deal with TCS to boost digital customer experiences
Tata Consultancy Services has announced a new deal with Mansfield Building Society to enhance member and intermediary experiences. The digital transformation will boost the building society’s customer service function, while supporting its ambitious growth plans.
A survey of customer service entities by McKinsey & Company shows that leaders are broadly agreed on the need to get digital right. Over half of respondents told the strategy consulting giant that the share of inbound contacts that take place through digital channels will exceed 40% in the next three years.
As companies scramble to meet with these demands, building societies in particular face an uphill battle. Building societies are financial organisation which pay interest on investments by their members, and lends capital for the purchase or improvement of houses. In the UK, they currently serve 26 million people with savings and mortgage offerings – making their digital transformation of customer services even more important.
As Mansfield Building Society looks to deliver on this front, it has agreed a new collaboration with global IT services, consulting, and business solutions firm Tata Consultancy Services (TCS). The strategic partnership will see TCS will deploy its state-of-the-art digital banking solution, TCS BaNCS for core banking, along with its digital home lending solution, to enhance member and intermediary experiences and support Mansfield’s ambitious growth plans.
Amit Kapur, head of UK and Ireland at TCS, said, “We are happy that the Mansfield Building Society has selected us for this transformative program. TCS BaNCS and TCS Digital Home Lending will provide Mansfield Building Society with a best-in-class and modern banking solution that will help them meet their members’ growing expectations in the online savings and mortgage lending space, while retaining their personal approach which is centered around the customer. This partnership strengthens our presence in the building societies sector which is reinforced by our strong track record of providing transformative solutions to the credit union and other organisations across the UK.”
Established in 1870, Mansfield Building Society has a steadfast member-centric philosophy. This transformation will see TCS migrating the Building Society’s digital banking solutions to the cloud and integrating with best-in-class ecosystem partners to enhance accessibility and efficiency across digital and intermediary channels. Members will benefit from a seamless experience leveraged through TCS’ digital technologies, data-enhanced decision making, and innovative product design.
Iain Lister, IT executive, at Mansfield, added, “We pride ourselves on our excellent service and personal approach and, therefore, finding a partner that can support our physical branch operation and provide a state-of-the-art digital experience is critical in ensuring that we meet the needs of all our members now, and in future. After a strenuous selection process, it was clear that there was only one solution which met all our requirements, especially when you consider TCS’ experience of delivering successful transformation programs, their ethical approach to business, and their relationship with existing clients which dovetails well with our mutual ethos and core values.”
