“Our investment in a new digital banking solution will enable building societies to shift from outdated, desk-bound branch operations to a modern hybrid model that combines digital efficiency with personalized, advice-driven service. This approach ensures customers can enjoy seamless technology while still maintaining meaningful human interactions, a balance that will be critical as the industry evolves over the next five years.”
Ben Verdin, Head of Product Strategy and Management for UK Lending at SBS.
Building societies have been part of the UK’s financial fabric for generations, but in a world dominated by digital banking and AI-driven services, their role is evolving. Are they still relevant? How do they compete with big banks and neobanks? And what does their community-driven model mean for customers today? This episode explores those questions with insights on why mutual ownership still matters and how building societies are blending tradition with technology to deliver advice-driven, human experiences. We also touch on innovations like MSS7, a solution that helps societies adapt quickly without losing the personal connection customers value. Tune in to discover why the conversation about banks versus building societies is more relevant than ever, and what the future holds for this unique model.
Explore more on this theme in our study: Go digital, stay human: How UK banks & building societies can reimagine the customer experience