Britannia Building Society is projecting profit growth as a direct result of an £8m consolidation of its information...
The society believes that the new system will give a fuller view of customer needs, which will in turn enable the company to provide better services, improve profit margins and take Britannia forward into Internet banking.
"If we can get a full view of members' needs then a better service can be provided," said project manager Mark Gates.
The financial service company has agreed a three-year £8m deal with Lynx Financial Systems to overhaul its core IT systems. The system will replace the branch cashiering, mortgage application processing, point of sale support and all core processing systems in 192 branches across the UK.
Gates said all 2,500 customer-facing staff would be linked up to the system. "Lynx brings product flexibility and a rationalisation to the various platforms," he said.
The application database and data servers will run on version 8.05 of the Oracle RDBMS while desktop and file servers will operate on Microsoft NT using Microsoft Transaction Server.
Lynx Financial Systems (Retail Banking) managing director David Webber said the integrated nature of the Lynx Summit system, whereby all data is held in the one place, is of particular appeal to Britannia. "An important part of the Summit system is that it is integrated for every unit so every piece of data is on the Oracle database," said Webber.
The Summit solution will also have an Internet banking module available from October.
Lynx Financial Systems has signed a £1.5m deal with Nationwide Building Society to provide a debt management system for 500 users.
Nationwide's platform of choice is Windows NT and Microsoft's SQL server, said Mike Starkings, managing director at LFS.
The Lynx package will enable the Nationwide to get a full view of the customer profile, not just the debt that is owing.