Scottish Building Society: Driving growth and efficiency with Finova Lending

Learn how Finova’s Lending solution helped Scottish Building Society modernise its operations, streamline broker processes and position itself for future growth in a competitive market.

Introduction

Scottish Building Society, the world’s oldest remaining building society with a 175-year legacy, has always combined tradition with forward-thinking innovation. Recognising the need to enhance operational scalability and broker engagement, the Society partnered with Finova to implement the Mortgage and Savings Origination (MSO) platform. The transformation marks a significant milestone, empowering the Society to scale efficiently while delivering superior service in a modern, fast-evolving mortgage market.

The challenge

Scottish Building Society has a proud reputation and a growing presence in the mortgage market. However, like many smaller players, it faced challenges scaling its operations while delivering the seamless, efficient service brokers and customers expect. Key challenges included:

  • Limited operational scalability to support growth ambitions
  • A need for a reliable, broker-recognised platform
  • Streamlining workflows and reducing reliance on manual processes
  • Ensuring technology could align with their modern ambitions while respecting their historic legacy
"We’ve built ourselves a strong brand, but we never felt we had the operational scale to truly move forward. Having MSO behind us provides the technology and reliability to enable efficiency, scalability, and growth."
Paul Denton, CEO, Scottish Building Society

The solution

Scottish Building Society selected Finova’s MSO platform to address its challenges and provide a modern, efficient backbone for its operations. The implementation process involved:

  • Cultural adaptation: Recognising that implementing MSO was as much a cultural shift as a technological one
  • Collaborative approach: Establishing an open, transparent and collaborative relationship between the Society and Finova's team to ensure success
  • Phased rollout: Allowing the Society to gradually adapt while minimising disruption to ongoing operations
"The Finova team has been exceptionally professional, showing flexibility and dedication throughout the journey. This has been the most successful project we’ve been involved with."
Paul Denton, CEO, Scottish Building Society
"We’re delighted to now have a platform recognised and trusted by brokers, which gives us the confidence to grow our business while maintaining exceptional service. This is 100% a partnership. The mortgage market evolves constantly, and having a system that can grow and adapt with us is key to our success."
Paul Denton, CEO, Scottish Building Society

The results

Implementing MSO has been transformative for Scottish Building Society, delivering significant operational and strategic benefits:

  • Scalability and efficiency: The platform's reliability has enabled the Society to handle greater volumes with limited resources, ensuring operational scalability
  • Broker recognition: MSO’s presence in the broker community has strengthened relationships and ensured confidence in the Society’s processes
  • Positioned for growth: The technology enables efficiency and flexibility, allowing the Society to expand its footprint in the market

Looking ahead

As Scottish Building Society continues to grow, the MSO platform provides a strong foundation to meet future challenges and opportunities.

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