The Midcounties Co-operative has launched a member investment portal, making it easier for members to view and manage their investments online for the first time.
The platform, developed with Mutual Vision, replaces the previous system of managing investments by bank transfer, post or email.
The digital system is also more efficient for colleagues managing investments internally.
Members can invest through a standard share account, which is opened automatically when joining the society, or choose fixed-term investments.
The Midcounties Co-operative reinvests members’ funds into projects such as building new trading sites, expanding services, improving energy efficiency and reducing carbon emissions.
Jacob Isherwood, chief information officer at The Midcounties Co-operative, said: “As a Co-operative we look after member’s money to help invest in the Society and do good for their communities.
“We wanted to choose a savings platform that would ensure we keep their money secure while improving how we manage and monitor their investments.
“Mutual Vision has been a fantastic partner for us as not only did their technology support our requirements well, but they’ve also adapted to support the additional needs of a co-operative.”
Isherwood added: “It’s also a bonus that their support of many existing mutual customers aligns with our values.
“We’ve worked collaboratively with the team at Mutual Vision to get the system live and hope our members enjoy the ability to see their investments and how they’re performing online.”
Tim Bowen, CEO of Mutual Vision, said: “Mutual Vision (MV) are delighted that The Midcounties Co-operative (TMC) have gone live with MV’s Core and Online Banking platform.
“We fully replaced TMC’s existing core banking system and delivered a new online banking solution.
“Prior to going live, TMC processed customers by phone, post, or cheque.”
Bowen added: “This digital transformation for member needs is a rare success story of a tech company migrating their core with a full data migration in 13 months.
“Our approach is fast, flexible, and above all practical. It also gives TMC access to future innovation in the form of MV’s new solutions such as MV Engage.”
