Specialty lender trusts OutSystems to drive digital transformation across its entire business
OutSystems, provider of the number one low-code application development platform, today announced that specialist lender Cambridge & Counties Bank is using its low-code platform to fuel a company-wide digital transformation initiative. Cambridge & Counties Bank will initially use OutSystems to develop four key components of its digital front-end platform, consisting of an online apply application, internal agent application, customer risk assessment, and a servicing portal, before cascading more widely into the business.
Founded in 2012, Cambridge & Counties Bank is a unique partnership between two established and respected institutions - Trinity Hall, Cambridge and Cambridgeshire Local Government Pension Fund. Since launch, it has completed over £1 billion of customer lending, continued to maintain a 99 percent new customer recommendation rate and declared pre-tax profits of £27.9m in 2018.
Headquartered in Leicester, with regional UK offices, Cambridge & Counties Bank has created a unique service that combines some of the great elements of a traditional bank with the speed, efficiency, and know-how that’s needed in the modern day, offering a personal service that’s straightforward, fast and flexible.
Cambridge & Counties Bank embarked on its digital transformation process when its current front-end solution for its business savings division was scheduled to go end of life in May 2020.
“During our evaluation process we looked at eight different options including three low-code platforms, an incumbent new offering, a programme from scratch, and three configurable pre-existing portals.”
“When we went through our due diligence, we found that the size, capacity, capabilities, and the sheer number of OutSystems systems integrators in the UK were all deciding factors. That, coupled with OutSystems position as a leader in the Gartner Magic Quadrant, made us opt for them.”
Cambridge & Counties Bank also intends to use OutSystems for future digital transformation projects in 2020 which centre on workflow and CRM systems.
“OutSystems gives us four great things, reusability, speed of development, flexibility, and confidence,” continued Phil Baker. “In terms of reusability, we get APIs developed into OutSystems which can be leveraged for several of the different applications that form our strategic plan. Not only does the platform give us confidence, but we have the feeling of security that comes along with OutSystems being a large, very successful and respected company with a great offering.”