YORKSHIRE BUILDING SOCIETY
16
“We ’ re now working much more closely with partners to drive solutions , but also to challenge our own thinking ”
— Darren Newbould , Head of Technology Operations
Delivery Natalie Juryta argues the institutions are innovative by their very nature . “ We talk about crowdfunding today ,” she begins . “ Building societies were stated by individuals who pooled money together until each owned their own home . That was innovation – it ’ s at the heart of who we are .” In addition , a key part of modern fintech is to cater for financially underserved customers , and YBS supports people who might be turned away by bigger providers ( such as the self employed ) to get on the property ladder .
“ We are carrying on that purpose 154 years after we started ,” says Howley , and indeed YBS still views itself as a community focused building society , no matter how much growth and innovation it undergoes . For example , YBS has partnered with End Youth Homelessness ( EYH ), raising £ 424,000 in 18 months to support over 107 young people into their own home .
Its member-led community focus also makes YBS more thoughtful with its spending . “ Every pound we spend is a pound of our members ’ money ,” Howley comments . “ We strive to have real respect for our members , which
MAY 2019