DUBLIN, Ireland and Manchester, UK – Bayberry, an advisory firm specialising in retail banking and growth strategy, today announced that the Association of British Credit Unions (ABCUL) has appointed it as consulting partner on its back office project.
The project is the latest development in a long-term programme delivering centralised services to British Credit Unions. The previous phase, the Credit Union Current Account, was also devised and launched by Bayberry for ABCUL.
The back office project will develop shared services including a central savings, loan and accounting platform, an interface to national and international payment and EFT networks, shared branching, Internet banking, credit control and the issuance and management of prepaid cards. Later in its development the project will also provide contact centre services for credit union members, marketing support and risk management support.
Bayberry’s role is to advise ABCUL on banking and payments solutions, regulatory affairs, operations, business strategy and commercial engagement.
Mark Lyonette, Chief Executive of ABCUL said, “We are delighted to be working with Bayberry to complete our vision for back office services for our member credit unions. Bayberry Consulting is an ideal partner for a project that spans technology, regulation, and commercial strategy. They have proved their value time and again and have been integral to the success of our ambition to provide central services and the success of the credit union current account.”
The project is a major step forward for the development of the credit union sector in Britain and supports the Government’s aim of tackling financial exclusion.
Bayberry is a business strategy consulting firm. We specialise in banking and payments, hi-tech and B2B marketing, and company development. What makes us different is our focus on turning the ideas we create into results for your company. Bayberry was established in 2002 and has an international client base across the USA, Ireland, the UK and Europe.
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ABCUL is the main trade association for credit unions in England, Scotland and Wales. At the end of September 2010, ABCUL’s 325 credit unions were managing £512 million of members’ savings on behalf of over 600,000 people. ABCUL is the country’s largest development, information and training network for new credit unions. It is a democratic, not-for-profit organisation and is improving day-to-day operations, legislation and regulation for all credit unions.