Innovating for Inclusion
In a captivating discussion, Colin Field, Chief Executive of Saffron Building Society, shared the unique position of his organisation in the financial landscape. As well as a strong presence in the East of England, they have a national lending footprint, as well as customers across the UK.
Saffron Building Society excels in speed to market, innovation and criteria. Colin emphasized that this agility allows the society to swiftly adapt to customer needs, providing tailored financial solutions that empower individuals throughout the UK.
Addressing the challenges faced by financially underserved populations, Colin pointed out there are different cohorts that experience different barriers (geography, preferred channel, lack of proposition awareness). So for any given cohort, there may be lack of knowledge about available financial products, limited access to essential financial advice, and not knowing where to find the businesses that can effectively assist them.
Reflecting on the FTT Mutuals, Colin emphasizes the importance of digital transformation in the financial sector. “We’re at a point where customer needs and digital change are coming together,” he says, stressing that businesses must adapt or risk being left behind. He also points out the need for collaboration across the industry to simplify the financial landscape and provide better solutions for customers.
How can understanding the unique challenges faced by financially underserved populations lead to innovative solutions in the broader financial industry? Do you think that the values of the Mutual Sector are compatible with digital change?
Listen to the full interview below as Colin explores some critical questions and shares his insights on improving access to financial products and services that meet the needs of diverse customers.
Want to learn more about digital transformation and its impact on lending – a crucial part of the portfolio of the financial products relied on by so many? Join us at FTT Lending taking place on 19th March in London. Engage in lively discussions tackling the key opportunities and challenges lenders and borrowers face today.
Are you passionate about the mutual sector? Does what Colin shares about the uniqueness of the Festival community strike a chord? Get in touch with us as we start working on the trends and technologies shaping the future of the sector at the 2025 edition of FTT Mutuals.
