CUA switches core banking system to Tata's BaNCS

Credit Union Australia (CUA) has announced it will migrate its core banking platform to Tata Consulting Services' BaNCS system over the next two years.

The BaNCS platform is operated by the Indian outsourcer's Financial Solutions division.

In 2006, following the merger of CUA and the Australian National Credit Union (ANCU), some from the Fiserv financial application to Abacus on an IBM mainframe.

CUA's CIO of 14 years, Barry Los, oversaw that project and will now help manage the transition to Tata's BaNCS platform.

In a announcement yesterday, CUA did not release any technical details of which, if any, in-house systems would be replaced as a result of the deal.

The credit union is Australia's largest customer-owned financial institution and provides banking services to more than 400,000 people.