Monday 7 December 2020
Reading Time: 3 minutes
Penrith Building Society has chosen Connexica’s LUCENT360 fully managed analytics service to help them to meet their management reporting needs more effectively, and to deliver new analytics that will provide insights into the organisation’s operations, customers, and target markets to help guide decision making and create an evidence base to support innovation and business change initiatives.
Underpinned by Connexica’s tried and tested CXAIR data management and analytics platform (deployed extensively within the UK building society sector), LUCENT360 is a comprehensive service which will take on the responsibility for the ongoing production and maintenance of all the society’s reporting and analytic needs. The team of experienced Connexica engineers and consultants will work with key business users within the society on an ongoing basis to understand their requirements for information and to quickly transform them into sets of sophisticated, visually appealing reports, dashboards and analyses, delivered in a timely and secure way to the desktops of the people within the business who need them.
The comprehensive nature of LUCENT360 means that in addition to building the society’s reports, dashboards and analyses, and maintaining them on an ongoing basis to ensure that they stay aligned with evolving organisational needs, Connexica will also deliver a full range of support services including the provision of the cloud-based hosting and ongoing proactive monitoring activities to ensure that system performance is maintained in an optimal way.
With LUCENT360 Penrith Building Society can relax in the knowledge that all of their data management and reporting needs are being taken care of by Connexica’s analytics experts without the need for them to worry about having to manage the ongoing resourcing and IT challenges that typically come with an initiative of this kind.
About Penrith Building Society
Penrith Building Society was founded in 1877 as a non-profit mutual organisation with the intention of helping local people look after their money and buy their own homes. The Society’s original seal reads “Every Man His Own Landlord”, and that is a principle which they still strive to uphold by providing a range of simple, good quality savings and mortgages products for their customers. These days, although the society is still attached to its traditional roots, they recognise that modern consumers wish to transact differently – so whether it be in-person, electronically or via an intermediary, the society provides the same supportive, fair and transparent service it always has done.
Elspeth James, Finance Director at Penrith Building Society said,
We are excited to be partnering with Connexica on their LUCENT360 fully managed analytics service. We currently spend a significant amount of time looking backwards when trying to drive the business forward, creating reporting based on what has passed rather than looking at where we are wanting to go next. LUCENT360 will allow us to spend less time on the historic and more time on the future. It will allow us to automate key areas of reporting, saving resource time and to develop bespoke analytical output on our membership base and their behaviours which will ensure our future business objectives of growth and sustainability are being achieved.
Gary Luke, Managing Director at Connexica said,
At Connexica we’re particularly excited to welcome Penrith Building Society as one of the first customers for out LUCENT360 service! We look forward to working closely with the society over the coming years to help them achieve their objectives and to promote innovation within the organisation.
The Connexica CXAIR platform on which the LUCENT360 service is based is deployed in 10 building societies across England and Northern Ireland, as well as a wide range of other organisations in the Finance sector in the UK and around the world.