Hinckley & Rugby Building Society and Whistlebrook have announced a long-term strategic partnership to support the Society’s growth aspirations in lock step with Whistlebrook’s technology road map.
Both organisations have more in common than people might first think. Whistlebrook is an employee owned business with comparative longevity for a software house, some twenty years plus, and of course the Society is member owned and is one of the oldest building societies being founded in 1865.
Both organisations place a commitment to customer service as core to how they derive their strategy and manage their business.
The Society has a target for significant growth over the forthcoming years and very much sees its investment in people and technology as key to achieving those growth plans. Whistlebrook also shares this ambition.
Hinckley & Rugby has already adopted Whistlebrook’s treasury and regulatory reporting products and over the next two years plans to adopt Whistlebrook’s financial accounting and business planning software.
In addition the two organisations will be working in close collaboration to further develop Whistlebrook’s ALM and Hedge Accounting products.
Both organisations believe that that increasing demands on financial institutions to both fulfil regulatory and other reporting requirements, as well as delivering business insight are going to drive change in how risk, finance, treasury and operational departments interoperate.
Organisations are being required to report with every growing frequency and with ever deepening granularity.
It is no longer practical to have systems in operational silos which are producing outputs that are based upon dissimilar data sets. The stress scenarios used for ILAAP, ICAAP, business planning and regulatory reporting should all be consistent and comparable such that the business is under continuous oversight and control.
Hinckley & Rugby see the integrated database that sits at the heart of the Whistlebrook ecosystem is key to ensuring that the Society has a single source of the truth to meet its regulatory, reporting decision-making needs.
Whistlebrook and the Society have worked together since 2015 and have developed a deep working relationship between their organisations that is built on joint trust and respect. Whistlebrook has been providing software to the Building Society sector over 20 years and can bring its wide industry knowledge and Microsoft expertise to maintaining a platform that fully meets the current and future needs of lending & saving organisations.
The financial services market place is constantly evolving and it is only with close collaboration that an independent software vendor and a sector market leader can ensure that they have the solutions in place for the market that is yet to emerge.
CEO Whistlebrook Limited