How building societies can revamp the member experience

Issue link:

Contents of this Issue


Page 4 of 4

The challenge that building societies face is how to attract and meet the needs of a new generation of members who are more smartphone focused. These prospective members traditionally have smaller savings deposits, and therefore are less likely to be driven by the rates of interest on a savings account due to the size of their deposits. As a result, building societies need to find alternative methods of attracting members from these demographics, such as utilizing open banking, incorporating savings tools, and providing rewards schemes, ultimately diversifying their business model for current and future generations. Sopra Banking Software is a digital transformation partner for building societies, with custom built tools that put your customers first and enhance the unique capabilities that your members value. Get in touch with a member of our team today to find out how Sopra Banking Software can help your building society get closer to your members. t is evident that there has been a seismic change in the way that consumers use digital technology. The gap between those digitally enabled societies and those that are not digitally enabled will continue to grow in the coming years. Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide. The rich variety of our solutions, the strength of our conviction and our passion for innovation enable us to support our clients on a daily basis and in their future projects, as well as in their goals regarding financial inclusion. Our customers, based in over 80 countries around the world, benefit every day from our technologies and software, as well as the expertise of our 5,000 employees. Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services and software development. With more than 47,000 employees, the Sopra Steria Group generated a turnover of €4.7 billion in 2021. For more information, follow us on LinkedIn, Twitter & Instagram or visit About Sopra Banking Software

Articles in this issue

Links on this page

view archives of Articles - How building societies can revamp the member experience