Leeds Building Society opts for Mambu core banking system in tech overhaul
Leeds Building Society is engaging in a new partnership with banking tech provider Mambu to overhaul its core banking system.
Leeds Building Society partners with Mambu
Serving approximately 900,000 members as the UK’s fifth-largest building society, Leeds Building Society has been operating via its legacy core system for over two decades.
Now with the formation of its latest agreement, the financial institution is set to transition its operations to Mambu’s software-as-a-service (SaaS) core banking platform, underpinned by Amazon Web Services (AWS).
The Dutch vendor states that the cloud-based platform is capable of going live in four to nine months, and can make around 30,000 product configurations possible for adopters.
It claims that its latest partner will leverage its new core to build new mortgage and savings products and, according to Mambu CEO, Fernando Zandona, “accelerate how it responds to new member expectations through technology and stay ahead in a dynamic market”.
Zandona adds that the vendor is “very familiar” with this endeavour, given that its technology is currently supporting 20 UK banks with their “complex transformation and migration programmes”.
Its remit in the region includes Alba Bank in Glasgow, Aldermore Bank in Reading, and Ashman in Birmingham, among others.
For Rob Howse, COO of Leeds Building Society, its agreement with Mambu seeks to address “the sustainability and flexibility of our existing banking systems”, and that the adoption of the core banking platform will “allow us to spend less time managing our legacy systems and more time focusing on improving our members’ experiences, which is our main priority”.
