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Project

Establish a shared banking services business that could deliver transformative banking services the UK credit union sector.


Solution

Bayberry’s team helped to establish Cornerstone Mutual Services to provide outsourced core banking and payment services to UK credit unions and building societies. We were lead advisor to ABCUL on banking and payments solutions, regulatory affairs, operations, business strategy and commercial engagement. We set out an optimised regulatory path for Cornerstone and established key service delivery strategies for its roadmap.


Results

A multi-layered €50m+ programme of work run by Cornerstone and funded by the UK Department of Work & Pensions to deliver a new banking platform as well as an effective marketing process to provide shared support services to reduce operating costs and improve efficiencies.

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.

Mark Lyonette Chief Executive of ABCUL and Conerstone Mutual Services