BOSTON & LONDON--(BUSINESS WIRE)--OutSystems, provider of the number one platform for low-code development, today announced that Wales’ largest building society, Principality Building Society, which grew its assets to £9.3bn in 2017, has selected OutSystems to be a key part in its digital transformation efforts.
Principality is a mutual, member-owned building society with more than 550,000 Members. For the last 158 years, it has been helping its Members with savings and mortgages. Now Principality has embarked upon the largest technology investment in the company’s history to digitally transform the business, and make its services more accessible to its Members, while investing for long-term sustainability.
Principality has ambitious growth plans with a clear focus on transforming its mortgage and savings business. Its strong performance to date means Principality can invest in its technology, branches, and colleagues to meet the changing demands of its Members.
Principality can develop a range of applications and capabilities with the OutSystems low-code platform including a new online savings portal offering new savings products that will further enhance the work already underway.
“Digital technology is evolving at a rapid pace. Our Members have told us they want flexibility and to have more choice in how they do business with us. Improvements to our technology will complement the personal service that is still important to Members,” said Julie-Ann Haines, Chief Customer Officer at Principality Building Society. “Partnering with OutSystems is a key part of our digital journey. This extensive program of work is all about enabling us to grow our core business of savings and mortgages improving the service we provide for our Members. We want our Members to prosper at every stage of life with a priority of being a strong, resilient and safe home for their savings and mortgages.”
“We anticipate that using OutSystems will help us innovate and drive forward our digital transformation program by enabling our team to deliver solutions much faster than traditional coding. It will also enable us to put the foundations in place for our digital requirements which we can build on over the next few years,” said Iain Mansfield, Chief Operating Officer at Principality Building Society.
- Formed in 1860, Principality is Wales's largest building society.
- The Society is committed to supporting the communities of Wales, with 53 branches and 18 agencies in Wales and the borders.
- Principality is the 6th largest building society in the UK.
- The Society has assets of over £9 billion.
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