Cumberland Building Society appoints finance ace to new CIO role

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A construction company created a new CIO position and appointed a leading finance innovator to the position.

The Cumberland Building Society highlighted their intention to modernize the business by doing so and welcomed Ian Stacey, the man who is now responsible for strategic planning around their major digital technology investment program.

Ian comes with 36 years of banking and finance transformation experience with organizations such as Barclays, EY and KPMG and has recently helped build two UK challenger banks.

He will be responsible for leading the technology and data program at The Cumberland and helping to deliver its significant investment program in digital technology and transformation.

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Ian said: “Most financial services companies can’t do what The Cumberland is offering because the scale is too large or the transformation is too complex, which forces them to take components out of their technology spaghetti and replace them gradually.

“It takes them longer or they can just digitize part of the bank, so hearing Des Moore (the managing director) talk about this full transformation and finding a company willing to do it is really exciting.”

Ian believes the technology will help both customers and colleagues at Cumberland. For customers, this may mean better functionality on The Cumberland’s website and mobile app or more personalized products.

For colleagues, this will mean a seamless flow of information that will streamline tasks like mortgage applications or help them make faster decisions for their clients.

They will also be able to access the same information securely whether they are in a branch, working from home or at the head office in Carlisle.

But, he believes that the technology will not change the fundamentals of the business and will only serve to improve The Cumberland’s excellent reputation for customer service, which has been recognized in numerous awards and a Platinum rating. on Feefo.

He added: “I’ve tested some of the digital banks’ customer service propositions and they’re certainly better than most traditional banks and building societies, but The Cumberland is way ahead.

“If we can deliver the right technology, add that to the great customer service we already offer, and leverage that by giving people the right tools, then we have a phenomenal opportunity to elevate our reputation and performance. to even higher levels.

“This is a very exciting time for The Cumberland, its customers and its colleagues.”
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