Posted on: September 20, 2022

London, UK – September 2022 – Whistlebrook Limited, a leading provider of back-office solutions for the financial services industry, is pleased to announce that, after a rigorous selection process, Darlington Building Society has chosen to implement additional Whistlebrook products.

The Society has used Whistlebrook’s Financial Ledger, Treasury Management and Effective Interest Rates products since 2017 and it has now chosen to also implement Whistlebrook’s Hedge Accounting, Asset and Liability Management and Financial Planning products. All of these Whistlebrook products will be run on the Society’s existing Cloud platform.

Whistlebrook harnesses the power of its single shared integrated database to provide a “single version of the truth”, in that the same data is used to drive all our products. This ensures that are no differences between the output from different Whistlebrook products due to differing source data or inconsistent calculations. This “single version of the truth” enables financial institutions to manage intricate risks calculations, meet time sensitive requirements, achieve ratio objectives, and derive business insights accurately and efficiently in a consistent manner.

Andrew Craddock, Darlington Building Society’s Chief Executive Officer said “We’re pleased with our experience of working with Whistlebrook over the last five years. We reviewed our Hedge Accounting, Asset and Liability Management and Financial Planning requirements, and we had no hesitation in extending our partnership. The digital transformation enhancements will provide even greater functionality, efficiency and accuracy for the Society.”

David Webber, Whistlebrook’s Chief Executive Officer added: “We are delighted that Darlington Building Society has chosen to implement these additional Whistlebrook products, to take further advantage of our single shared integrated database. Darlington Building Society and Whistlebrook have always worked well together and we are pleased that the Society will realise the benefits of extending their use of the  Whistlebrook product set. We look forward to working with the Society to support its vision and growth journey by successfully implementing these new products.”

About Darlington Building Society                                                                                                               

Darlington Building Society operates throughout the North East and Yorkshire and had assets of £752m at 31 December 2021 (£702m at 31 December 2020). The Society’s head office is in Darlington, where it has been based since 1856.

In 2022, Darlington Building Society was recognised as an ‘outstanding’ employer for the second year running by independent employee engagement firm, Best Companies. The Society was also rated as the third best financial services company to work for in the UK, 12th best company to work for in the north east and 19th best overall mid-sized company to work for in the UK.

The multi-award winning Society was also named Building Society of the Year at the MoneyAge Awards 2021 and the Mortgage Awards 2021.

About Whistlebrook

Founded in 1997 Whistlebrook is a leading provider of back-office software solutions to the financial services industry. These software solutions have been developed with financial institutions to solve business problems, provide business insights, and improve efficiency. The software solutions comprise of a portfolio of back-office applications, all integrated at database level, which cover such areas as: Regulatory Reporting; Effective Interest Rate calculation; Hedge Accounting, Single Customer View; Funds Transfer Pricing; Treasury Management; Margin Management and Accounting.

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