LONDON – March 3, 2021: Monmouthshire Building Society, a 150-year-old Welsh mortgage, savings and insurance services business, has taken its first steps in rolling out Blue Prism’s turnkey cloud platform, for a change program that could see as many as 170 processes improved through intelligent automation.
The Society, established in 1870, has launched a transformation strategy to achieve greater operational efficiency and drive competitive advantage as a fast-growth modern mutual within the market:
Our use of digital workers means we’re able to expand the mix of products we can offer to our changing member base via our broker network, allowing us to grow a lot faster. Our people clearly see the potential this has for serving our stakeholders better than ever. In fact, we are seeing healthy competition among business teams to get their processes to the top of the stack.Dawn Gunter COO of Monmouthshire Building Society
The benefits of Blue Prism at the Society will go far beyond making processes more efficient as the high levels of accuracy and detailed audit trail strengthens the Society’s risk and compliance.
I am excited to hear how the Society is harnessing automation and welcome how this will speed up mortgage applications. This will enable me to provide my customers with the fastest mortgage offer possible. Decreasing the time between completion and receiving the procuration fee will also be a great step forward and one that brokers will appreciate.Lee Saunders Carter Lee Financial Services
Intelligent automation enables mutual societies to break through the friction that this long-standing lending model has created, helping to build an operating model of the future and a fully digital experience that younger generations expect.
Monmouthshire Building Society had the long-term vision to digitalise all of its operations and adopt a cloud-first technology strategy. It’s now leading the way within the sector with a clear view of how to harness the power of a digital workforce and continue providing the high level of service customers and brokers expect.Brian Mort General Manager of EMEA, Blue Prism
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