Ecology Building Society has completed the migration of its savings and mortgage operations onto Monument Technology’s banking platform, in a move the two firms say will support a more digital service for members and brokers.
Monument Technology said the ethical lender and savings mutual is now fully live on its platform, bringing to an end a core transformation programme first announced in 2024.
The project has seen Ecology move all of its savings and mortgage business onto Monument Technology’s Banking Platform as a Service, or BPaaS, giving the building society a single platform covering areas including customer onboarding, mortgage origination, account servicing, payments, CRM and regulatory reporting.
The companies said the work was completed in just over 18 months, which they described as quicker than many comparable programmes in financial services.
For Ecology, the move is intended to simplify its technology stack and reduce the operational burden of managing multiple systems. The society said the new set-up would allow it to improve service levels for members and brokers, while giving it more scope to respond to changing customer needs and support future growth.
Monument Technology’s platform is designed for banks and building societies seeking a cloud-native core banking system across savings, lending and payments, with digital distribution through channels such as mobile apps and web portals. The provider said its managed service model covers implementation, integration, ongoing management and future upgrades.
Ecology is the first organisation to adopt the full Monument Technology platform. Monument said that gives the launch added significance as it looks to win further work among mutuals and banks considering modernisation programmes.
Steve Britain, chief executive of Monument Technology, said: “We are delighted to announce Ecology Building Society as the first financial institution to go live on the Monument Technology platform and to deliver a market-leading Banking Platform as a Service.
“When we first announced our partnership with Ecology, the ambition was to enable a faster, digitally-led, superior service and scalable future for their members. Delivering that vision in a live, regulated environment is a significant milestone not just for us, but for the wider building society and banking sectors.
“This demonstrates institutions can adopt modern banking technology at pace, without the need for lengthy and complex transformation programmes. We know this is something other banks and building societies want to take advantage of so they can deliver a superior experience for their customers and a simpler, lower-risk route to modernisation.”
Gareth Griffiths, chief executive of Ecology Building Society, added: “Our decision to partner with Monument Technology was driven by a clear need to improve the service we offer to our members while supporting our long-term growth and impact ambitions.
“Going live on the platform is a major step forward for Ecology. It enables us to provide a digital-led proposition for our members, operate more efficiently, respond more quickly to changing needs, and continue to support sustainable savings and mortgage products for consumers across the UK.
“We are thrilled with the relationship we have forged with Monument Technology, the progress made and the results achieved. We’re already looking forward to building on this strong foundation as we expand our services to members.”
