Unisys logoNewport, South Welsh based Monmouthshire Building Society selected Unisys‘ omnichannel banking platform, Elevate, to provide digital current account services to its customers.

Monmouthshire Building Society is one of the first building societies to adopt Unisys’ Elevate solution. Elevate platform will provide Monmouthshire Building Society the capability to deliver seamless digital current account services across multiple channels for its’ customers, including the digital wallet capabilities for the first time.

Elevate has an open API architecture that meets the open banking requirements of the banks and building societies, allowing Monmouthshire Building Society to potentially offer new financial products and services in the future.
Will Carroll, CEO, Monmouthshire Building Society said “We believe our partnership with Unisys will provide an innovative solution that supports our strategic objectives to become a modern society, and the local flexible financial partner of choice. This exciting proposition will enable the Society to grow its membership, whilst providing both existing and future members with a multi-channel offering.”

“The challenge for many banks and building societies today is how to stay relevant and give people more choice to bank in a manner that fits with their lifestyle,” commented Eric Crabtree, vice president and global head of Financial Services, Unisys.  “Monmouthshire Building Society is focused on delivering a best-in-class banking experience to meet the changing needs of customers. Coupling their commitment to digital transformation with Unisys’ services and software will enable them to drive greater customer satisfaction and build brand loyalty – by giving their customers the capability to bank across multiple channels.”

As reported by IBS Intelligence, Elevate which was launched last year, is designed as a digital end-to-end system and suite of applications is adaptable to fit a range of business needs such as origination of mortgages, loans, savings and current accounts across multiple touchpoints – mobile banking, internet, branch or contact centre.

As building societies aim to compete with challenger banks and high-street for the millennials, they are increasingly looking at digital banking services as a must-have.

by Niket Jithra