Leeds & Holbeck licenses Yorkshire banking system

Leeds & Holbeck licenses Yorkshire banking system

Leeds & Holbeck is the first customer of Yorkshire Key Services, a company established by Yorkshire Building Society and development partner HP to market an ASP-based version of the UK society's core banking system.

Yorkshire is looking to recoup some of the £21 million investment made in developing its own system, by sharing hardware, software and support systems with rival institutions.

The firm claims to have at least three deals in the pipeline, in addition to Leeds & Holbeck, which has already signed up and begun deployment of the system to manage its back-end processing.

The Yorkshire system was developed in-house in association with HP in the mid-1990s and is purpose-built to support the needs of smaller UK building societies. Rental costs range from £200,000 to £1 million per year.

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