Nottingham Building Society completes Core Banking modernisation with SBS

By Aarav Garg

Nottingham Building Society, a UK-based mortgages and savings mutuals, has completed its core banking modernisation programme with global FinTech provider SBS.

The Nottingham Building Society has upgraded to SBS Core MSS 6.1, which aims to modernise its platform to better serve its 300,000 members, strengthen regulatory compliance and enable new digital capabilities.

Paul Walton, General Manager, SBS said, “Completing this transformation gives Nottingham Building Society a modern and resilient core platform. It improves performance today and provides the flexibility to introduce new capabilities as member expectations continue to evolve.”

SBS Core MSS 6.1 has unlocked a series of new features that will be rolled out progressively over the next year. For members, the upgrade will have several key features, including faster customer support, easier-to-navigate mortgage and savings applications and new digital experiences.

Russ Thornton, Chief Technology Officer, Nottingham Building Society said, “Our members trust us to be there for them, reliably and securely, every day. This programme strengthens the foundation that makes that possible and opens the door to the new products and services we’ll be delivering for them.”

Core MSS is SBS’s Mortgage and Savings Suite for building societies and specialist lenders, which supports the full lifecycle of mortgage and savings accounts from account opening to processing transactions and meeting regulatory reporting requirements. Version 6.1 of the platform has aimed to improve its performance with expanded compliance capabilities and a modular architecture that allows societies to adopt new features and integrations as their needs evolve.

The programme was delivered in partnership with HCLTech, which supported system integration and testing. The completion of Nottingham Building Society’s Core MSS banking upgrade is part of the Society’s Mighty Foundations objective, which aims to provide a secure and stable foundation for the Society’s members. SBS will work with the Society over the next year as it begins to roll out the new features of Core MSS 6.1.