CUA Appoints TCS BaNCS for Online Banking Platform Transformation

<table cellspacing=0 cellpadding=0 border=0><tr><td align=right>Source: </td><td>PR Newswire Association LLC</td></tr><tr><td align=right>Wordcount: </td><td>596</td></tr></table><!-- start_body --><br><div class="xn-content"><p><span class="xn-location"><location value="LU/in..bombay" idsrc="xmltag.org">MUMBAI, India</location></span>, <span class="xn-chron"><chron>Oct. 20, 2011</chron></span> /PRNewswire/ -- <org value="Bombay:TCS" idsrc="xmltag.org">Tata Consultancy Services</org> (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organisation, announced today that CUA, <span class="xn-location"><location value="LC/au" idsrc="xmltag.org">Australia</location></span>'s largest customer-owned financial institution, has selected TCS BaNCS Online Banking Platform to revitalize and transform its online banking system.</p><p>The selection of TCS to deliver CUA's online banking platform follows the announcement made earlier this year that TCS and its BaNCS banking platform would be delivering CUA's new core banking system. The online banking transformation program is expected to be delivered over the next two years.</p><p>CUA's Chief Executive Officer, <span class="xn-person"><person>Chris Whitehead</person></span>, said, "Following the selection of TCS to implement our core banking system, we also reviewed TCS BaNCS online banking platform and determined it would meet the needs of both  our business and our customers for the long-term.  The benefit of having one partner delivering an integrated technology solution also brings obvious advantages. Enhancing the experience our customers have with our brand and ensuring consistency across all channels is a business priority that is fundamental to our growth strategy.  As part of the transformation program our online banking customers will have access to mobile banking applications and a more streamlined, easy-to-use and visually appealing service with improved functionality and capability," concluded <person>Mr. Whitehead</person>. </p><p><span class="xn-person"><person>N. Ganapathy Subramaniam</person></span>, President, TCS Financial Solutions, said, "In addition to TCS BaNCS Core Banking,  our team is delighted to provide CUA with an integrated retail banking solution that now includes TCS BaNCS Online and Mobile Banking software. TCS BaNCS will connect customers to CUA's broad range of products and services including deposits, loans and payments in a highly interactive and user friendly mobile banking environment. We are confident that this transformation program will assist CUA to drive profit with growth."</p><p><b>About CUA</b></p><p>As <span class="xn-location"><location value="LC/au" idsrc="xmltag.org">Australia</location></span>'s largest customer-owned financial institution, CUA provides banking services to more than 400,000 Australians across the country and is emerging as a competitive force in Australian banking.   CUA is 100 per cent owned by its customers, not shareholders, with profits reinvested back in to the business in the form of more competitive products, better interest rates and lower fees. For more information, please visit: <a href="http://www.cua.com.au/">www.cua.com.au</a></p><p><b>About TCS Financial Solutions</b></p><p>TCS Financial Solutions is a strategic business unit of <org value="Bombay:TCS" idsrc="xmltag.org">Tata Consultancy Services</org>. 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. Our mission is to provide best–of-breed solutions that drives growth, reduces costs, mitigates risk and offers a faster speed-to-market for our clients. With a global customer base of more than 260 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at <a href="http://www.tcs.com/bancs">www.tcs.com/bancs</a>.</p><p><b>About <org value="Bombay:TCS" idsrc="xmltag.org">Tata Consultancy Services Ltd.</org> (TCS)</b></p><p><org value="Bombay:TCS" idsrc="xmltag.org">Tata Consultancy Services</org> is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model (GNDM™), recognised as the benchmark of excellence in software development. A part of the <org>Tata Group</org>, <span class="xn-location"><location value="LC/in" idsrc="xmltag.org">India</location></span>'s largest industrial conglomerate, TCS has over 202,500 of the world's best-trained consultants in 42 countries. The company generated consolidated revenues of US <span class="xn-money"><money>$8.2 billion</money></span> for year ended <span class="xn-chron"><chron>March 31, 2011</chron></span> and is listed on the <org>National Stock Exchange</org> and <org value="ACORN:3602140396" idsrc="xmltag.org">Bombay Stock Exchange</org> in <span class="xn-location"><location value="LC/in" idsrc="xmltag.org">India</location></span>. For more information, visit us at <a href="http://www.tcs.com/">www.tcs.com</a>.</p><p>SOURCE <org value="Bombay:TCS" idsrc="xmltag.org">Tata Consultancy Services</org></p></div>