SBS enhances UK lending with new open banking features

By Vriti Gothi

SBS has launched of Core MSS7, the latest evolution of its Mortgage and Savings Suite designed for UK building societies and banks. The new release introduces open banking integration, digital onboarding, and enhanced mortgage deal-switching capabilities, enabling lenders to deliver faster, smarter, and more seamless experiences for their members.

SBS’s end-to-end core platform currently powers one in five UK mortgages and underpins digital transformation across leading lenders including Newbury Building Society, The Co-operative Bank, Hinckley & Rugby Building Society, Scottish Building Society, Swansea Building Society and Kensington Mortgages. With Core MSS7, these institutions can modernise their operations while maintaining the hallmark of high-quality, member-focused service that defines the mutual banking model.

As consumers increasingly expect instant digital access and personalised interactions across all aspects of their financial lives, traditional lenders face intensifying competition from challenger banks and FinTech entrants. Core MSS7 responds to this challenge by giving building societies and banks a robust digital foundation that enhances agility, strengthens compliance, and streamlines member engagement across all channels.

Together with its counterpart, the Front Office Portal (FOP), Core MSS delivers an integrated suite that manages the full lifecycle of mortgages and savings products from origination and account opening through to mobile banking, branch teller operations, and ongoing servicing. This comprehensive approach has already helped institutions reduce mortgage processing times from application to offer by more than 50 per cent, supported by a secure, scalable cloud infrastructure designed to evolve with regulatory and market demands.

“We’re continuing to empower building societies and banks to bring digital innovation into their branch and deliver seamless, personalised experiences that exceed customers’ expectations with this new release of Core MSS,” said Paul Walton, General Manager, UK Lending, SBS. “We’re blending human connection with smart technology to help these institutions evolve and align them with technology that is as agile and member-focused as themselves.”