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Melton Building Society partners with Finastra to meet consumer demands

Wednesday 5 July 2023 13:59 CET | News

Melton Building Society has chosen Finastra Essence, deployed on Miscrosoft Azure cloud, to digitally transform its operations and quickly implement new services.

 

Finastra’s SaaS solution will enable the Society to offer enhanced customer experiences through seamless self-serve capabilities and user journeys, whilst empowering its staff to focus on value-added support by automating manual tasks.

Melton Building Society also selected Mast, a flexible, cloud-native mortgage origination system designed to help lenders process applications faster, for its loan origination service and Fairmort, a provider of software solutions for financial services, to manage its data migration and regulatory reporting.

Melton Building Society has chosen Finastra Essence, deployed on Miscrosoft Azure cloud, to digitally transform its operations and quickly implement new services.

Officials from Melton Society said they selected Finastra due to its strong industry expertise and truly cloud-native solution, providing added security and giving them the flexibility to develop their offering and pursue more partnerships in the future. Finastra is the right partner for them to embrace the modern world in one step, so that they can continue helping people buy homes, make the most of their savings, and seek independent personal financial advice.

Essence, which has been chosen by three UK building societies, is a digital banking solution with a cloud-first approach. It integrates advanced technology and features to enhance business flexibility, minimise expenses, and optimise operational effectiveness. Utilising an open, microservices architecture, Essence offers comprehensive retail and commercial banking capabilities, empowering institutions to swiftly introduce new products and services. By adopting this solution, Melton Building Society can enhance its product offerings, cater to diverse customer segments, and uphold its commitment to delivering augmented services and assistance to its current members.

Finastra’s officials also emphasised that modern customers seek fast, independent, and seamless access to information and services, while having the option of expert support when required. Through their solution, Melton Building Society can enhance member experiences by offering self-service capabilities and connecting with third-party fintech companies, all while expanding their customer base and optimising operational expenses. Moreover, the Society's dedication to supporting the communities it serves aligns closely with Finastra's mission to promote inclusive, sustainable finance that unlocks the potential of individuals, businesses, and communities.


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Keywords: digitalisation, partnership, lending, fintech, cloud services
Categories: Banking & Fintech
Companies: Finastra, Melton Building Society
Countries: United Kingdom
This article is part of category

Banking & Fintech

Finastra

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Melton Building Society

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