News

The latest building societies conference news and updates.

The Brave New World of cheques is almost upon us

As the payments industry boils itself into a frenzy around Fintech, Regtech, and innovation hubs, bubbles and incubators, the ‘good old dependable cheque’ finally gets the new lease of life that the government and the cheque clearing industry have been promising us for longer than most of us care to remember.
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Long termism in an accelerating world - and what it means for building societies

At a recent NEDs dinner, I asked what timeframe they thought long term planning should encompass. Immediate responses were about the typical three-to-five-year business planning horizon, which led to a broader discussion of how to reconcile the cycle of business planning with running a successful inter-generational business. After all, societies are proud of their histories and boards often talk...
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Cyber security for building societies – don’t panic!

If you were to believe a lot of the stories in the media or listen to some of the more alarmist statements by ‘security consultants’ then there is a 16 year old obsessive geek sitting with a laptop in his bedroom in Nuneaton stealing your money and data and there’s nothing you can do about it. And not just one - there’s an army of them! (Not all in Nuneaton, obviously).
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Mortgages in the digital age

A recent Fiserv survey found that over a 30-day period, millennials accessed their financial organisation via mobile app or browser 8.5 times on average versus 3.1 times for non-millennials. Millennials are a useful barometer of future trends, particularly because the demographic and its income are growing. In addition, mobile (apps or browsers) is rapidly approaching websites as the most...
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Key questions you need to ask about your defined benefit pension scheme

1. Do you know how much your DB scheme costs to run? It can be difficult to get information on how much your defined benefit pension scheme costs to run, but it’s important to understand how much is being paid for services such as administration, investment (consultancy and fund management charges), governance, legal, audit, actuarial and covenant. Value for money, not just cost, is also an...
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Building society, nationwide

Nationwide Chief Executive, Joe Garner, discusses why the society is taking inspiration from its roots to determine and plan its future.
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The key challenges and opportunities facing building societies in a data-driven, customer led world

Data security, digital disruptions and regulatory changes mean that building societies are working within an increasingly challenging environment. Demands from stakeholders, investors, government and customers are leading to radical changes within the sector. Building societies, banks, investment companies and pension providers are all seeking solutions to control costs, comply with regulatory...
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No single bullet, but the Housing White Paper has to deliver

With the Government’s Housing White Paper some four months in the making, with rumours about what may-or-may-not be in it making headlines across the media in the run up to its publication on 7 Feb 2017, expectations were always going to be impossibly high.
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Digital transformation in financial services: Is it just a fad to get businesses investing in more technology?

Tap “digital transformation” into Google and you’ll get nearly 10m results. Add financial services to narrow the search and you’re looking at over 4m hits. It’s a big talking point, and big business. Rest assured, this is no fad. The term “digital transformation” has been around for a couple of decades, but its meaning and focus has evolved over time. Today you’ll hear it alongside buzzwords such...
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3 ways to start improving your mortgage loan process today

Originating a mortgage is no easy task. It is people and information intensive. Every bit of information must be double verified and internally double or triple checked. To make matters worse, as lenders are trying to meet deadlines, they also need to keep their customers (borrowers) happy and informed. Borrowers are often frustrated by the seemingly endless requests for documents, lack of...
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