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 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 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.