TCS expands partnership with M&G Prudential
Around 400 roles from M&G Prudential across a number of UK sites are expected to be transferred under the TUPE arrangements to TCS’ FCA-regulated, UK subsidiary.
Tata Consultancy Services (TCS) has expanded its previously signed 10 years partnership agreement with M&G Prudential, the UK and European savings and investments business of Prudential plc., aimed to digitally transform M&G Prudential's business and deliver an enhanced service for its UK savings and retirement customers.
TCS told in a press statement that the agreement has now been expanded to cover an additional 1.8 million customer policies which will move from M&G Prudential to TCS, bringing the total number of policies covered by the partnership to 5.8 million, and is worth an additional £500 million (USD 668 million USD) over the term of the contract.
"Earlier this year, we embarked on a journey to digitally transform and provide an enhanced service for M&G Prudential customers. We are delighted to have expanded this partnership which will help accelerate the growth agenda for M&G Prudential. We remain committed to delivering greater speed, agility and flexibility through our BFSI Digital Platform," said Suresh Muthuswami, President and Global Head, Banking, Financial Services and Insurance Platform, TCS.
"We are confident that extending our strategic partnership is the right thing to do. Our customers will benefit from a better experience, digitally enhanced systems, tools and service, while the colleagues who have been central to our success in servicing our customers will join a rapidly growing business and have access to many opportunities that being part of a world-leading IT services company can deliver," said Clare Bousfield, Chief Executive, Prudential UK.
Around 400 roles from M&G Prudential across a number of UK sites are expected to be transferred under the TUPE arrangements to TCS' FCA-regulated, UK subsidiary. Also, 183 roles in India are also expected to move from M&G Prudential to TCS.
TCS is one of UK's largest digital employers and works in partnership with businesses, the public sector and communities throughout the UK.