Nottingham Building Society Completes Core Banking Modernisation With SBS

Nottingham Building Society, one of the UK’s leading mortgages and savings mutuals, has announced the completion of its core banking modernisation programme with global financial technology company SBS. The Society has upgraded to SBS Core MSS 6.1, modernising its mortgage and savings platform to better serve its 300,000 members, strengthen regulatory compliance, and enable new digital capabilities.

SBS and Nottingham Building Society have worked together over the past twenty years to ensure the Society’s infrastructure has evolved alongside the changing lending and technology landscape. With nearly 75% of the UK population now fully embracing digital banking,c, like Nottingham Building Society, recognise the need to modernise their technology to ensure maximum uptime and deliver the digital experiences members expect. The Society most recently turned to its ongoing collaboration with SBS to upgrade its core mortgage and savings platform to improve performance, ready technology to adopt new features and functions, and reduce the cost and risk associated with maintaining ageing systems.

SBS Core MSS 6.1 unlocks a pipeline of new features that will be rolled out progressively over the next year. For members, the upgrade will bring several key enhancements, including faster customer support, easier-to-navigate mortgage and savings applications and new digital experiences.

Core MSS is SBS’s Mortgage and Savings Suite for building societies and specialist lenders, powering one in five UK mortgages through leading lenders. It supports the full lifecycle of mortgage and savings accounts, from account opening to processing transactions and meeting regulatory reporting requirements. Version 6.1 of the platform powers enhanced performance, expanded compliance capabilities and a modular architecture that allows societies to adopt new features and integrations as their needs evolve.

“Our members trust us to be there for them, reliably and securely, every day,” said Russ Thornton, Chief Technology Officer, at Nottingham Building Society. “This programme strengthens the foundation that makes that possible and opens the door to the new products and services we’ll be delivering for them.”

The programme was delivered in partnership with HCLTech, which supported system integration and testing. By combining HCL Tech’s capability with SBS’s deep product and domain expertise, the programme was completed quickly without compromising on quality

“Building societies are under growing pressure to modernise the infrastructure behind mortgages and savings while meeting increasingly complex regulatory requirements,” said Paul Walton, General Manager at SBS. “Completing this transformation gives Nottingham Building Society a modern and resilient core platform. It improves performance today and provides the flexibility to introduce new capabilities as member expectations continue to evolve.”

The completion of Nottingham Building Society’s Core MSS banking upgrade is part of the Society’s Mighty Foundations objective, which aims to provide a secure and stable foundation for the Society’s members. SBS will work with the 176-year-old Society over the next year as it begins to roll out new features and capabilities unlocked by Core MSS 6.1.