Case Study

UST helped Yorkshire Building Society accelerate data science maturity and modernize its data culture

The Yorkshire Building Society accelerated its roadmap to data science maturity by 18 months with UST's help. The custom analytics application helps them predict future demand effectively and make more insightful, data-driven decisions.

OUR CLIENT

Founded in 1864, the Yorkshire Building Society is the third-largest building society in the U.K. With 231 locations, the company offers savings accounts, insurance, and mortgages to more than three million members nationwide.

THE CHALLENGE

Legacy data infrastructure and outdated data culture prevented sophisticated analytics

Yorkshire Building Society (YBS) implemented a digitalization strategy to modernize its aging systems to drive growth and become a data-driven enterprise. As the IT team embarked on the initiative, they quickly realized they had a fractured database infrastructure that didn’t provide rich, high-quality data necessary for modern analytics. For example, the existing data systems weren’t capturing the information needed to generate sophisticated AI-generated data science insights. In addition, the company needed to transform its data culture to become more data-driven and fully leverage advanced analytics.

THE TRANSFORMATION

Education and custom analytics applications paved the way for effective data science practices

Under UST’s guidance, YBS transformed its approach to data by shifting from a collection and storage paradigm to an insight-driven culture rooted in data science. Our data engineering team led a 3-month initiative that helped the company understand the capabilities and benefits of AI-based data science methods and how data-driven insights can help YBS align financial product and service offerings with customer behaviors and economic conditions.

By creating a custom analytics application prototype, YBS forecasted customer behaviors, product migrations, and asset liquidations under different scenarios—helping the company realize what insights can be gleaned from sophisticated AI-driven data analytics.

To help YBS resolve its fractured data systems, the UST data scientists pinpointed which data fields and corresponding data sources could provide the unified, enriched data sets that could then be used for AI-based data analytics. The data scientists also created a process that the YBS IT team could follow to extract the necessary data continuously.

THE IMPACT

Transformed data culture to become a data-driven enterprise

By engaging with UST, YBS estimated that it accelerated its roadmap to data science maturity by 18 months. The company now has an analytics application and a methodology to identify customer migration patterns across its most popular savings products to predict future demand and make more insightful, data-driven decisions.

RESOURCES

https://www.ust.com/en/alpha-ai

https://www.ust.com/en/industries/financial-services