The future of digitisation for the mutual

The FCA and PRA have opened the Scale-up Unit to more building societies, lowering the barriers for ambitious firms with credible growth plans. But the regulators’ own findings point to a bigger opportunity: societies working together on the shared costs and challenges that limit growth.

Bank Local comes to life in places like Penrith. With just one branch and around 10,000 members, Penrith Building Society shows how even the smallest mutual can compete in a digital-first world. Their journey proves that transformation isn’t about scale, it’s about agility, purpose, and the right technology choices.

Earlier this year, we were thrilled to share that The Midcounties Co-operative had selected Mutual Vision as their technology partner to deliver a new Member Investment Portal. A secure, digital-first platform enabling members to view and manage their share accounts and fixed-term investments in one place. We recently sat down with Jacob Isherwood, CIO of The Midcounties Co-operative, for a candid Q&A about the Society’s digital journey, what the new portal means for members, and his vision for co-operative technology in the future.