Accenture wins contract to deliver new core banking IT system for Coventry Building Society

IT Intelligence Bulletin (HG Insights) — Accenture has been selected by Coventry Building Society, a top 10 UK savings and mortgage provider, as its delivery partner in a major transformation of Coventry’s core banking platform.

The program involves the implementation of a new system based on IRESS’s and Temenos’s core banking solutions, which will support the Society’s key business functions, including mortgage and savings origination, product management and customer servicing.

“Our growth strategy relies heavily on having a robust, member-oriented digital agenda,” said Peter Frost, Coventry Building Society’s chief operations officer. “Our engagement with Accenture, combined with the solutions provided by Temenos and IRESS, will deliver the foundation we need to remain agile and resilient in the years to come. This is a significant investment in our future, and we selected Accenture for both its understanding of our industry and track record in delivering core platform solutions.”

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Karen Huish, a managing director in Accenture’s Financial Services practice in the UK & Ireland, said, “Accenture is delighted to work with Coventry Building Society in support of its core platform transformation program. This project brings together leading software, tools, assets and capabilities to facilitate realization of the Society’s vision for members and employees.”

Andre Israel, a managing director at Accenture who leads its core banking consulting practice, said, “Our expertise in banking and deep experience with core systems will help Coventry Building Society capitalize on its strategic opportunities. We’ve formed a trusted relationship with the Society and look forward to working with them to help develop their operations.”

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