TCS secured a deal to rebuild the core banking systems of Australia’s MyState Limited following its merger with Auswide Bank.

MyState Limited, one of Australia’s leading financial institutions, picked TCS to roll out its BaNCS Global Banking Platform, according to TCS’s press release dated 14 October. Neither side has disclosed the deal’s value or how long the project will run.

The merger drives the move. The new platform will pull the combined bank’s many banking systems, work processes, data stores and customer service tools into one setup.

Core banking is the engine room of a bank. It tracks accounts, deposits, loans and payments. After two banks join, running two engine rooms gets messy.

MyState chief executive Brett Morgan called the AI-enabled platform an important step towards a bank that is easier to run and easier to grow.

He expects less complexity, faster launches of new ideas and more personal, reliable service for customers.

Venkateshwaran Srinivasan, TCS’s global head of financial solutions, said BaNCS covers core banking, payments, customer engagement, relationship management and digital operations.

He said the upgrade should improve the customer experience, lift efficiency and help MyState capture the gains of combining the two banks.

Under the hood, the platform brings a ready-made banking model, a configurable setup for new products, automated workflows, software connectors and AI-based tools.

It also leaves room for future growth and possible acquisitions. No timeline for the rollout has been made public yet, so how soon MyState customers will notice changes is unclear.

The win follows other recent work for TCS. On 15 September, it signed an AI transformation deal with Aareal Bank and another with DGCX to upgrade derivatives systems.

TCS reported consolidated revenue of more than $30 billion for the year ended 31 March 2026. The MyState project adds to its financial services technology business.

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