Gail Maltby, chief executive of Paycare, and Neil Armitage, marketing director at Foresters Friendly Society, explain the reasons behind the growing trend of mutual societies working together.
Gail Maltby, chief executive of Paycare. Nothing has become clearer than the need for mutual and not-for-profit organisations in the industry to communicate their offerings better to one another and seize opportunities to cross-fertilise the benefits they are able to offer to members. Multiple driving forces are shaping this need. Larger ‘non-bank' market players are already well-accustomed to pooling back office and technological functions. Consolidation among building societies is also a continuing trend, as shown by Yorkshire's recent acquisition of Norwich & Peterborough. Th...
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