U.K.-based Yorkshire Building Society has selected OutSystems and its integrated development environment for customer-facing e-commerce and mobile applications, reports Alex Hamilton of Fintech Futures (Finovate’s sister publication).
The project will involve what OutSystems is calling a “significant update” to Yorkshire Building Society’s back office systems.
According to the vendor, a newly installed digital platform will provide a more immersive customer experience, and “vastly” increase security. It estimates that the building society will save £600,000 a year as a result.
“We were looking to address a range of specific requirements when we started working with OutSystems, chiefly how we could better service our customers with additional functionality through our e-commerce platform, which was approaching end-of-life,” said Ant Warrington, director of digital and innovation at Yorkshire Building Society.
“We also wanted to streamline our employees’ internal workflows and processes to improve overall efficiency throughout the business.”
Garry Larner, regional director, financial services and insurance at OutSystems, added: “Extending the self-serve capabilities of Yorkshire Building Society’s technology to alleviate the load on its branches and call centres was a key KPI for the organization.”
“We’re happy to help the society take that digital step forward, helping them to remain a leader in an extremely competitive market.”
Yorkshire Building Society is the third-largest building society in the UK with three million members and 143 branches across the country. It holds assets of £43.3 billion.
OutSystems participated in our developers conference, FinDEVr New York 2017, discussing the digital transformation of a European retail bank in its presentation: “Low-Code, The Next Evolution in App Dev Platforms (Oh, and 5X Faster).” Founded in 2001, the company announced earlier this month that it has forged a partnership with Workato and fellow Finovate alum Persistent Systems to help businesses take more advantage of automated business processing solutions including app connectors.