Newbury Building Society taps Sopra Banking Software to launch new app
Newbury Building Society, a UK-based mutual building society providing mortgage and savings services, has expanded its partnership with French fintech firm Sopra Banking Software (SBS) to power its new app.
Newbury Building Society to launch a new app
The building society, which operates 10 branches throughout Berkshire, Hampshire and Oxfordshire, has selected the vendor’s mobile app solution as part of its “digital transformation journey”.
With self-service capabilities, the software will enable its 75,000 members to view statements, handle deposits, and manage savings and mortgage accounts through a mobile app integrated with the building society’s existing myaccounts online service.
The deal marks the first deployment of SBS’s mobile app solution in the UK market, and signals the strengthening of its growth strategy – an ambition previously cited in its appointment of Tobias Unger to COO in January.
Despite this milestone for the vendor, the UK remains a deeply competitive and highly saturated market for banking software. Swedish core banking software provider Vilja also announced its entry into the UK less than a month ago, which it achieved by partnering with local mortgage origination platform Mast.
The pair are specifically targeting the country’s building societies sector with an offering that combines Mast’s mortgage origination solution and Vijla’s platform for deposits and mortgage servicing.
