UK Regtech docStribute Partners with Chorley Building Society

UK Regtech docStribute, specialists in document distribution solutions, is pleased to announce a strategic partnership with Chorley Building Society.

Digitalization is a vital step for “building societies and the partnership with docStribute demonstrates Chorley Building Society’s dedication to operational efficiency, enhanced Member engagement, and regulatory compliance.”

With UK local government data showing “that paper and cardboard account for 20% of all waste produced in the UK, by using docStribute’s solutions, Chorley Building Society will reduce their paper consumption and emissions while simultaneously streamlining their operational efficiency.”

On the partnership with Chorley Building Society, docStribute CEO Chris Ansara, said:

“We are excited about our collaboration with Chorley Building Society, which will drive digital transformation and strengthen customer relationships – all to the benefit of Chorley Members. Our solutions will play a pivotal role in achieving these objectives and delivering lasting positive impact.”

Chorley Building Society’s Customer Services Director, Kim Roby, added:

“Our priority is making sure our Members receive fantastic services. We are committed to ensuring our Members have the best possible experience which is regulatory compliant and environmentally sustainable. Our partnership with docStribute helps us to deliver this, and the use of docStribute’s solutions will simplify member communication and improve consumer understanding.”

The new partnership enables Chorley Building Society “to greatly improve its documentation delivery processes, ensuring Members have instant and secure digital access to information and communications, whenever they need it.”

The collaboration with docStribute “provides Chorley Building Society with a platform to deliver personalized, timely, and tailored communications that will enhance Member engagement.”

As noted in the update, docStribute is a RegTech company “dedicated to revolutionising document distribution solutions for financial institutions.”

Driven by innovation, efficiency, and compliance, docStribute says it “empowers organisations to engage customers effectively, streamline operations, and adapt to evolving regulatory requirements including the recent introduction of the Consumer Duty.”

docStribute leverages Distributed Ledger Technology (DLT) to protect the integrity of customer documents. Using DLT, their solutions “create secure and unchangeable records of the information and communication interactions, ensuring transparency and security throughout the document distribution process, and so meeting the FCA’s Durable Medium regulation.”

As mentioned in the announcement, Chorley Building Society “was founded in 1859 to help local mill workers buy their homes and 164 years later, the Society still remains true to its traditional, mutual values of providing an individual service to all its Members.”

The Society has three retail branches “in the North West of England with its head office in Chorley, Lancashire.”

It has assets “of £333.9m (as at February 2023).”

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