High-speed application platform underpins digitalisation strategy
Yorkshire Building Society (YBS) Group is now able to quickly develop and deliver customer-friendly apps, including a new online mortgage calculator that has seen conversions increase by 54 per cent, by using the OutSystems high-speed application development platform.
The UK’s third-largest building society has made digitalisation a core part of its business strategy to build both customer-centric services and trust with its customers. In addition, YBS wanted to provide more choice for how customers accessed services, to help reduce inbound calls and wait times, as well as further improve the overall customer experience.
In order to do this, YBS chose OutSystems as its core development technology to build customer-focused apps faster. The first app, a new online mortgage calculator, was delivered in just three months.
To meet its exacting security standards, YBS selected OutSystems Sentry. This was to ensure the building society had all the speed and agility advantages of high-speed application development, combined with the benefit of additional security, risk management, and monitoring for a SOC2 Type II compliant cloud platform.
Kirsty Jordan, Digital Services Lead, Yorkshire Building Society, said: “There’s an increasing digital dependence amongst our customer base, so we need to make sure that those experiences are seamless and allow people to carry out activities with us as quickly and easily as possible. Using OutSystems has made that much easier to do and, by developing a set of APIs and services that work with our existing systems, we have a lot more flexibility, with all of our security requirements still baked in.”
Willem van Enter, Vice President EMEA with OutSystems, said: “The OutSystems platform isn’t just transforming YBS’s approach to individual products and processes. It’s also helping the building society with executing its digitalisation strategy, while at the same time resetting the way the building society operates in order to help deliver its long-term ambitions.”
Having successfully delivered the mortgage calculator application, the same development team joined a project to overhaul the customer acquisition journey for savings products. The new digital experience takes six minutes instead of ten and, during A/B testing, YBS saw a ten per cent increase in application completions.
It is also exploring additional opportunities to improve its processes with OutSystems, including a focus on those in the back-office, such as removing paper and streamlining decisions, as part of its digitalisation agenda.