Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a strategic collaboration with Yorkshire Building Society, one of the largest member-owned financial institutions in the UK, to accelerate its digital transformation. As part of the engagement, Infosys will help Yorkshire Building Society deliver a mobile-first, data enabled, and efficient banking experience for their mortgage, commercial, and savings members.
Infosys was selected for its deep financial services expertise, digital transformation capabilities, and next-gen technologies. Leveraging cloud, data, artificial intelligence, and cybersecurity solutions, Infosys will help Yorkshire Building Society achieve its 2030 strategic plan. The plan aims to enhance customer and employee experiences through digitally enabled operations to build a future-ready society. Infosys will support Yorkshire Building Society to modernize their operations, improve efficiency, and support future scalability.
Patrick Connolly, Director of Change Delivery, Yorkshire Building Society, said, “This collaboration is crucial to achieving our 2030 ambitions and realising the true potential of this organisation. The choices we make now will shape our future, and we are committed to combining the convenience of digital with the warmth of human interaction. This transformation will empower our members and colleagues with the tools and services needed to deliver great customer outcomes, including major investments such as faster payments and enhanced security. It’s a key part of our plan for continued growth, innovation, and efficiency, ensuring we continue to serve our members for generations to come.”
Dennis Gada, Executive Vice President and Global Head of Banking & Financial Services, Infosys, said, “We are deeply committed to collaborating with Yorkshire Building Society for their transformation journey. We are bringing our full suite of next-generation technologies to help them improve customer experience for their members, with a deeper focus on end-to-end digital channels. This collaboration not only underscores our ability to provide innovative solutions but also highlights the tangible value we are bringing to help Yorkshire Building Society achieve their strategic objectives and build a resilient, future-ready organisation.”
About Yorkshire Building Society
Table of Contents
Yorkshire Building Society has assets of £65.5 billion and more than 3 million customers across the YBS Group, including Chelsea Building Society and Norwich & Peterborough Building Society, which are trading names of Yorkshire Building Society. Its subsidiary companies include Accord Mortgages Limited.
For more information on Yorkshire Building Society visit www.ybs.co.uk
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
Media contact
For more information, please contact: [email protected]
Yorkshire Building Society Partners with Infosys for Digital Transformation: An Expert’s Take
Keywords: Digital Transformation, Yorkshire Building Society, Infosys, Financial Services, Banking, Technology, Cloud, AI, Cybersecurity, Customer Experience, Mobile Banking
Time.news Editor: Welcome, everyone, to Time.news! today, we’re diving deep into a recent proclamation: Yorkshire building Society’s strategic collaboration with Infosys for a important digital transformation. To help us unpack this news and understand its implications, we have Dr. Anya Sharma, a leading expert in financial technology and digital innovation. dr. Sharma, welcome!
Dr. Anya Sharma: Thank you for having me. Happy to be here.
Time.news editor: Dr. sharma, let’s start with the basics. What’s your initial reaction to this partnership between Yorkshire Building Society (YBS) and Infosys? Is this a big deal?
Dr. Anya Sharma: Absolutely. This is a significant move for both organizations, and importantly, for the broader financial services landscape in the UK.YBS, as one of the largest member-owned financial institutions, is making a clear statement about its commitment to future-proofing its operations. Partnering with a global giant like Infosys signals a serious investment in digital transformation.
Time.news Editor: The announcement mentions a “mobile-first, data enabled, and efficient banking experience” for YBS members. Can you elaborate on what this might look like in practice?
Dr. Anya Sharma: Certainly. “Mobile-first” means YBS is prioritizing the development of banking services primarily accessible and optimized for mobile devices. Think intuitive apps with features like seamless account management, loan applications, and personalized financial advice. “Data-enabled” implies leveraging data analytics and AI to understand customer needs better, personalize offerings, and improve decision-making. This might involve things like tailoring mortgage recommendations or identifying potential savings opportunities based on individual spending habits. “efficient banking experience” highlights streamlining internal processes using cloud and automation technologies to provide more fast and effortless service.
Time.news Editor: Infosys will be deploying solutions based on cloud, data, artificial intelligence, and cybersecurity. Why are these technologies so crucial for a financial institution undergoing digital transformation?
Dr. Anya Sharma: These are the essential building blocks. Cloud provides scalability, flexibility, and cost-efficiency, allowing YBS to adapt quickly to changing market demands.Data and AI offer invaluable insights into customer behavior, enabling personalized services and a more responsive customer experience. Crucially, cybersecurity is non-negotiable in today’s financial habitat. Robust security measures are essential to protect member data and maintain trust. Given the increasing sophistication of cyber threats, investing in cutting-edge security solutions is paramount.
Time.news Editor: YBS has a “2030 strategic plan” that this collaboration supports. What are some of the broader trends you see driving these kinds of long-term digital transformation initiatives in the financial sector?
Dr. Anya Sharma: Several key trends are driving this. Customer expectations are evolving,with a growing demand for convenient,personalized digital experiences. Competition from fintech companies is intensifying, forcing conventional institutions to innovate to stay relevant. The need to improve operational efficiency and reduce costs is always a pressure.And,of course,the ever-present need to mitigate risks and comply with evolving regulations plays a major role. The 2030 strategic plan likely aims to address these trends head-on.Also, the focus on employee experience is vrey vital. A strong employee experience typically results is a better customer relationship for the business as a whole.
time.news Editor: Patrick Connolly from YBS emphasizes combining “the convenience of digital with the warmth of human interaction.” How do you see the balance between these two playing out in the future of banking?
Dr. Anya Sharma: This is a critical point. While digital solutions offer speed, convenience, and efficiency, the human element remains essential, especially for complex financial decisions or when things go wrong. The future of banking isn’t about replacing human interaction entirely but about augmenting it with technology. AI-powered chatbots can handle routine inquiries, freeing up human advisors to focus on more complex issues and provide personalized guidance. It’s about creating a seamless omnichannel experience where customers can seamlessly transition between digital and human touchpoints as needed.
Time.news Editor: For our readers who might be working in financial services or considering a similar digital transformation, what advice would you offer based on this news?
Dr. Anya Sharma: Two main pieces of advice. First, clearly define your strategic goals and ensure that your digital transformation initiatives are aligned with those goals. Don’t just implement technology for the sake of it. Second,prioritize the customer experience. Every technology implementation should be focused on enhancing the customer journey and making banking easier and more convenient. This is a long-term journey, so it’s essential to foster a culture of innovation and continuous advancement.
Time.news Editor: Dr. Sharma, thank you so much for sharing your insights with us today. It’s been incredibly helpful to understand the nuances of this collaboration between Yorkshire Building Society and Infosys.
Dr. Anya Sharma: My pleasure. Thank you for having me.