Introduction Imagine you own a buy to let property that is worth £500,000. You want to sell it for that amount, but you don’t have many buyers who can afford it, and don’t want to reduce the price. You might also not want to lose the ownership of the whole house. What if you could […]
The first Building Society can be traced back to Ketley’s founded in 1775 which was the first institution of its type in the world. Since then, Building Societies have continued to play a huge role in British communities and the economy. These unique financial institutions are owned by members and foster a sense of community […]
Download our new report today – “Powering the Modern Mutual: The Technology Landscape” Woodhurst’s latest report, “Powering the Modern Mutual: The Technology Landscape,” stems from our belief that everyone should have access to better financial solutions. Recognising the pivotal role of technology in enabling Building Societies to meet evolving member needs, we delve into the […]
In 2024, becoming a digital-first Financial Institution (FI) is not just an advantage, but a necessity for most that wish to both retain and gain customers. The emergence of Open Banking has compounded this, becoming a catalyst for innovation and customer-centricity. When discussing the benefits of Open Banking, the theme is often around how it […]
Britain’s Battle with The Branches 2024 kicked off with several banks announcing branch closures, contributing to the ongoing decline of bank branches, down from nearly 15,000 branches in 1986 to fewer than 6,000 as of 2023. This situation has presented several challenges, particularly for local communities where the dwindling presence of branches has left those […]
What is Financial Literacy? ‘Financial Literacy’ is defined by Investopedia as ‘the ability to understand and effectively use various financial skills, including personal financial management, budgeting and investing.’ In today’s economy, the significance of Financial Literacy has surged, driven by the increased complexity of financial products and services which require detailed understanding to engage with […]
Over recent years, the adoption of mobile banking has led to significant and transformative changes within the global financial services industry. In the post pandemic era there has been a ~70% increase in customers using digital banking channels, propelling the global mobile banking market from $692.5 million in 2021 to an anticipated $1.3 billion by 2028. […]
In May 2023, the Home Secretary Suella Braverman presented to Parliament finding that 1 in 15 adults were victims of fraud in 2022. While the exact figures are unknown and difficult to determine, it’s predicted by Peters & Peters and Crowe that British individuals are losing approximately £8.3 billion per year to fraud. Background to […]
Download our new report today – “The Modern Mutual: What’s your strategy?” At Woodhurst, we believe that everyone should have access to better financial solutions, and we recognise the integral role that the Building Society sector plays in delivering this in the UK. Having spoken to more than half of the Building Society CEOs in […]
The financial services sector is undergoing a tech-driven makeover that is hard to ignore. We’re witnessing a wave of change where AI, once a futuristic concept, is now a driving force behind how businesses function and serve their clients. The insights shared by Goldman Sachs Research in April this year add a fascinating layer to […]
We had the pleasure of attending the Banking Transformation Summit yesterday, it was a fantastic opportunity to gain valuable insights into the ongoing transformation in the banking industry. Here are some of our key takeaways from the event: 1️⃣ Shifting Customer Expectations: The primary driver for banking transformation lies in meeting changing customer expectations. People […]
“Offering a carbon footprint is the start of the journey for me, it helps get the unengaged engaged, and offers them small incremental steps for improvement which will open up more opportunities and impact reductions for the customer based on their lifestyle choices and for our banking clients to create bespoke green financial products” – […]
