Back to March 2016

Leeds scoops prestigious IT innovation award

Leeds Building Society is celebrating a top honour at the FStech Awards 2016, after receiving the ‘Cloud Computing Innovation of the Year’ title.

In 2015 Leeds Building Society moved its core banking systems into a virtual private cloud. This project marks an important step in the evolution and innovation of cloud technology in Financial Services.

“Cloud computing provides us with the ability to store and process our data in centres with high technical resilience and the ability to easily add extra processing power,” said Anne Ivey, Leeds Building Society’s Head of Software Delivery.

“It also gives us a platform on which we can build our products of the future which will allow us to better serve our members. The success was due, in no small part, to the excellent relationship between us and our provider, Hewlett Packard Enterprise (HPE).”

The Society was also shortlisted in the ‘Best Use of Technology in Customer Service’ and ‘Best Use of IT in Retail Banking & Insurance’ at the awards ceremony.

Michelle Stevens, FS Tech Magazine Editor, said: “The judges were won over by a great example of core banking functionality in a virtual private cloud in the UK. The regulator had historically been resistant to running core banking systems in cloud environments, but this marks the start of a dramatic shift.”

Ends

Notes to Editors

Leeds Building Society received the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2016, the third consecutive year the Society has won this category, as well as the award for ‘Product Innovation (Lenders)’.

The Society also has been named ‘Best Regular Savings Account Provider’ for the second consecutive year by independent consumer advice website Savings Champion.

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £13.5bn (at 31st December 2015). The Society has operated from the centre of Leeds since 1886.