West Bromwich Building Society Selects Unisys to Launch New Digital Financial Services for its Members
Top UK building society chooses Unisys' Elevate™ to provide mobile banking to its members for the first time
LONDON and BLUE Bell, Pa., December 2, 2020 – Unisys Corporation (NYSE: UIS) today announced that West Bromwich Building Society (the West Brom) has selected Unisys' omnichannel banking platform Elevate™ to support the society's digital transformation by delivering secure new digital services for its members – giving them greater choice and easier ways to manage their savings via any channel.
Under the contract signed in the third quarter of 2020, the West Brom's members will benefit from new services including a mobile app, secure self-service and a messaging portal. In addition, enhanced biometric and two-factor security make it easier for members to securely access their accounts, and new operational tools will enable the society to more quickly and efficiently design and launch new products and manage data processing.
"This is a significant project for the West Brom, ensuring that we continue to exploit digital capabilities so that we give our members access to our products and services based on flexibility and their choice of channel," commented Jonathan Westhoff, chief executive officer, the West Brom. "By choosing Unisys as a digital transformation partner, it means we have the ability to integrate all of our products and services regardless of channel, from branch through to our new mobile services. These new innovations provide the foundation to achieve our objectives of serving our members to the best of our ability."
Recent research by McKinsey found that consumer preference for handling everyday transactions digitally is as high as about 60 to 85 percent across Western European markets, even for customers 65 years of age or older. Traditional building societies typically require their members to go in-branch for all services, but with the Elevate platform, the West Brom will be able to provide its members with more flexible banking across channels. In addition, Elevate's open API architecture supports banks and building societies with a modern platform, giving the West Brom the potential to offer new and innovative financial products and services to its members in the future.
Leveraging technology from Unisys partner Sandstone Technology, Unisys Elevate integrates front end digital banking with core banking capabilities to deliver seamless banking services across multiple channels in real-time across branch banking, call centre, online and mobile.
Chris Rigley, vice president, Unisys Financial Services in EMEA, said, "Supporting the West Brom with the digital transformation of its operations is a great example of Unisys' ability to deliver truly differentiated services that meet the rapidly evolving expectations of customers in the market today. The West Brom's members expect to be able to manage their money anytime and anywhere, and by offering an array of services across channels without having to start a transaction over, the West Brom is able to offer a unique and personalised way to improve the customer experience."
Elevate is a dedicated, flexible financial services platform for institutions of all sizes. It can be adapted to fit a range of business needs, including the origination of mortgages, loans, savings and current accounts regardless of touchpoint; from mobile banking, internet, branch or contact centre.
About West Bromwich Building Society
Based in West Bromwich, the West Brom is the UK's seventh largest building society with 36 branches and around 430,000 members.
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