Society Recieves Prestigious Industry Commendation

18 December 2012

Financial Services Forum Award 2

Monmouthshire Building Society has received a commendation in the 2012 Financial Services Forum Awards for Marketing Effectiveness.

The Society’s development of its online savings application capability was commended in the category of New Product, Service or Innovation, where it competed against 5 other high profile providers including Lloyds TSB, AXA Wealth International and the eventual winners Barclays Bank.

Introduced in 2002, the Financial Services Forum Awards are dedicated to recognising and rewarding marketing effectiveness and proven success in the presentation and promotion of financial services and products. This year’s awards took place on 22nd November at the City of London Guildhall.

The Society was commended for its innovative use of e-commerce, which has helped the business to increase its UK market share for savings business. In recent years, the Society has significantly invested in its online presence, which has primarily involved redeveloping its website to enable customers to access a greater number of services online, and function as an online branch.

Andrew Lewis, Chief Executive of Monmouthshire Building Society, said, “We are delighted to have been recognised by the Financial Services Forum for the online innovations we have pursued to maximise the potential for attracting new product applications. This commendation is particularly gratifying as it has been awarded by professionals working within our industry, who understand the environment in which operate, and the challenges we encounter.”

He continued “Although Monmouthshire Building Society is now over 140 years old, we understand that as times change, so must the way in which we engage with customers. Our e-commerce initiatives demonstrate how we are utilising new technology to adapt the business to meet the changing needs of customers and the market place in which we operate”.

Monmouthshire Building Society was previously awarded the Excellence in e-Commerce award at the inaugural IWA/Western Mail Business Awards in 2011, and a 2012 Online Retail Award in the category for Finance & Insurance companies. Both awards were in recognition of the Society’s innovative use of e-commerce and web development.

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