The UK’s Yorkshire Building Society (YBS) and HP Enterprise Services UK have teamed up to deliver a cloud-based shared services alliance.

Using Virtual Private Cloud, HP’s existing platform, the new shared services alliance will provide banks and building societies with access to a data center, service management, application development and client support.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

David Henderson, chief information officer at YBS, said: "The flexibility to meet ever-changing market needs and customer expectations presents major challenges for any organization, but especially financial institutions.

"Although the Yorkshire is already a successful provider of IT services through our Yorkshire Key Services subsidiary, this cloud-based Shared Services Alliance will offer a new way of working for the U.K. financial services market by moving away from a capital model to a service model, reducing costs and time to market."

HP will deliver services including complete mortgages and savings solution, regulatory reporting, business intelligence and business process outsourcing.

Jeremy Suddards, vice president of financial services at HP UK and Ireland, said: "Becoming more customer-centric whilst driving down operating costs is no longer a choice for retail financial services institutions — it’s essential to survival.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"The key to success is to leverage the latest technology — like HP Enterprise Cloud Services — that delivers real value and the ability to adapt rapidly to change."

 

Related articles

Citi sells Egg to Yorkshire Building Society

Yorkshire Building Society to launch PFM tool