Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

UK's Furness Building Society replaces core IT platform to speed product development

Matthew Finnegan | Nov. 1, 2013
Aims to improve online services as it installs Sopra software suite

Furness Building Society has replaced its core IT infrastructure with a mortgage and savings suite from Sopra Banking Software.

The building society is currently in the process of migrating to the Mortgage and Savings Suite (MSS) from Sopra, in a bid to speed the development of mortgage and savings products and improve its online offerings.

Furness Building Society is the fifteenth largest business of its kind in the UK with assets of £837 million and 27 branches and agencies across Cumbria, Lancashire and Merseyside.

As part of the IT overhaul, the building society said it will also be deploying Sopra's Front Office Portal software to support internet sales and servicing of mortgage and savings products.

The project to implement the software across all of its business is set to go live in early 2014.

"The overriding objective of our new IT platform is to enable the Society to deliver a comprehensive range of products and services to its customers and intermediaries," said Nigel Quinton, chief executive of Furness Building Society.

"We want to do this by providing a superior customer experience at the same time as improving the efficiency of the organisation. Sopra Banking Software offers a proven, functionally rich platform that closely matched our requirements and we have confidence in their ability to deliver the project on time and to budget."

Furness' decision to overhaul its IT comes not long after announcements from other building societies replacing their core infrastructure. Yorkshire Building Society recently unveiled a partnership with HP to supply mortgage and savings IT to other financial firms through a virtual private cloud platform hosted at the vendor's Wynyard data centre.

Leeds Building Society was later announced as one of the first clients for the partnership, as part of a ten year hosting contract for its core IT.

 

Sign up for CIO Asia eNewsletters.