Modern Mutual Spotlight on Skipton Building Society
Skipton Building Society prides itself in continuing to make membership matter for their customers. Having first opened its doors in 1853, the Society’s purpose still remains the same: to help people get on the housing ladder and remain financially resilient in the long term. Our Co-Founder, Ben Nadel, sat down with Skipton’s CEO of Home […]
Bridging the Digital Gap in Islamic Finance
Introduction There is growing demand for digital solutions from Islamic Financial Institutions (IFIs) in the UK and globally, especially amongst young Muslims. A Mambu report found that 74% of millennial and Gen Z Muslims desired Islamic finance mobile banking apps. Additionally, 76% considered online banking options a deal breaker for converting from conventional finance to […]
Modern Mutual Spotlight on Progressive Building Society
Progressive Building Society’s investment in digital technology enables the Society to remain relevant for its members. As it finalises moving its technology infrastructure from data centres to cloud, Woodhurst co-founder Ben Nadel sat down with Michael Boyd, CEO of Progressive Building Society to understand how the Society continues to strive for delivering their core purpose […]
Modern Mutual Spotlight on Leeds Building Society
Leeds Building Society strives to put home ownership within reach of more people. Their core mission has ultimately guided their journey as a Modern Mutual, ensuring the Society is future proofed for both members and colleagues. Our co-founder Ben Nadel sat down with Richard Fearon, CEO of Leeds Building Society, to explore their journey so […]
Coining a new era: Tokenisation for Building Societies
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 Modern Mutual: What is your Branch Strategy?
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 […]
Mitigating Security Risks in the Mobile Banking Era
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. […]
Confirmation of Payee (CoP)
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 […]
The digital shift in remittance transfers
Remittances are forms of cross-border payment flows, which typically move from developed economies to emerging markets. As the lifeblood of millions of families worldwide, they are often a central form of support provided by migrants who recurringly send a portion of their finances earned from working abroad back to their home countries. In 2021 alone, […]
7 ways to bring back human connection in a digital world
How can we bring human connection back into our lives? As we have already discussed here, the increased prevalence of digital technology has gradually eroded human connection, proving detrimental to many elements of our social and working lives. But it isn’t all doom and gloom. Digital technology has, in many ways, made our lives far […]