Data Insights: A Critical Tool for Business Growth

At Saffron Building Society, we recognize that data is more than just numbers—it’s the key to understanding our customers and driving innovation. Like many other organizations, we’ve faced the challenge of using outdated 20th-century technology that doesn’t provide the robust data output needed to generate actionable insights. Without these insights, creating better propositions for savings or lending becomes difficult.

In response to this, we embarked on an 18-month journey to build a data system that’s agnostic to our core banking system. This new system is powered by a data lake, data dictionary, and new entities. By leveraging tools like Power BI, we can now analyze data more effectively, gaining insights into our customers’ behaviors and our products’ performance. This allows us to make informed decisions quickly and efficiently, managing the business while also positioning it for future growth.

Data has become a critical area of focus for us, not just for the day-to-day running of the business, but also for enabling future innovation. With this new system, we’re now equipped to manage data more effectively, helping us build stronger customer relationships and unlock new opportunities for the business.