Singapore based TCC Credit Co-Operative (TCC) are now successfully using their new ‘Ultracs 5’ core banking system, having recently completed a significant upgrade with financial software supplier Ultradata Australia - all performed remotely to accommodate the COVID-19 restrictions.
The upgrade to a new version of Ultracs has been a very significant project for TCC as they migrated, in June 2020, from a much older version of the Ultracs core banking system. The upgrade delivers to TCC not only the numerous enhancements of the more modern ‘Ultracs 5’ solution, but provides staff with intuitive workflows and additional banking tools for a better member experience.
Previously an upgrade of this size would involve onsite technical support and product training.
Like many other organisations, to address the challenges of COVID-19, including safe social distancing measures, Ultradata had to make significant changes to their project management approach and perform all aspects of the project remotely - from installation to consulting, support and staff training.
“Transforming our banking system has been a priority project for TCC and has involved a significant amount of staff training. With Ultradata’s assistance everything was completed efficiently and remotely adhering to the new safety measures.
“Ultradata were able to give us all the assistance we required and we are now enjoying the outcomes of a successful project. Our staff are appreciating increased automation and modernised workflows, and we have more tools to deliver our objective of providing excellent service to members and to meet our co-operative’s goals,” said T.G. Gritharan, General Manager, TCC Credit Co-operative.
A key aspect of the project was for Ultradata to modify the banking system to meet the specific needs of the Singapore market, as well as ensuring the universal benefits of Ultracs were localised and met the needs of TCC staff and customers.
Ultradata is experienced in adapting the Ultracs banking system to meet different market requirements as the solution is already available in 10 countries. The geographic spread of their customers means that Ultradata is familiar with remote project management and has rigorous processes in place to support the installation teams on the ground.
“Ultradata has been for some time successfully performing remote installations and system upgrades for clients who appreciate it as a cost effective alternative to onsite installation.
“Due to the added complexities of COVID-19, the TCC upgrade has been one of the largest upgrades performed remotely, but we are very pleased with the successful outcome, giving us all even more confidence that location is no barrier to completing a successful and seamless banking system upgrade,” said Peter Henshaw, CEO, Ultradata Australia.
Ultracs 5 is a world ready banking platform comprising everything a mutual bank needs with a one stop solution to run their organisation, from customer facing solutions to reconciling banking transactions and everything in between.
The robust Ultracs 5 core banking system is fully integrated with all the latest digital banking products, offers full mobility to serve members anywhere, and a powerful 360-degree view of the customer with access to real-time data across multiple channels.
The Ultradata development approach aims to always create a product or solution that allows its clients to use the tools, and deliver the right products for their members, in the right way for their business.
The Ultracs core banking solution is the centre of the Ultracs Ecosystem, and embodies this approach ensuring functionality is customisable and meet users’ expectations.