Hanley Economic Building Society seeks technology refresh with DPR
Hanley Economic Building Society is set to replace its legacy banking systems with origination and servicing technology from DPR.
The building society, based in Staffordshire, was founded in 1854 and is a member of the UK’s Building Societies Association. It holds around £426 million in assets under management
FinTech Futures understands that the DPR platform will be replacing Sopra’s MSS.
DPR claims that the building society will be replacing many of its existing manual processes with “rich functionality” and improvements to operational efficiency.
Mark Selby, CEO of Hanley Economic building Society, says that after three years of “breaking records” with its commercial performance, the firm thought it was time to take itself “to a more modern model.”
He adds: “We need to expand our capacity and offer a more modern service. We will build online savings applications and servicing as well as a mobile app.”
The building society’s core systems had remained the same for 25 years, says Selby, and its capacity had been fully maximised.
DPR has experienced a few wins so far in 2020. Earlier this month investment firm and challenger bank hopeful Castle Trust selected the vendor as it prepared to roll out banking features.
DPR has also seen new products built on its services by Saffron Building Society, which launched a new savings app in January.