Modernizing mutuals: building relationships in a digital world with The Cumberland's Susanne Parry

Episode 89 of Banking Reinvented explores how building societies are modernizing while preserving the personal touch that defines mutual banking.

Host Tim Rutten sits down with Susanne Parry, Chief Operating Officer at Cumberland Building Society (The Cumberland), to discuss how mutuals can deliver digital-first experiences without losing the human connection that makes them different. Together, they explore the unique challenges building societies face in transformation, how to design digital journeys that feel personal, and why financial wellness could become the defining differentiator for mutuals competing against larger commercial banks.

Tune in to hear how The Cumberland is reimagining member journeys, empowering colleagues with data and digital tools, and proving that modernization doesn't have to mean losing what makes mutuals special.

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Timestamps

(00:00) – Welcome to the "Banking Reinvented" podcast

(00:30) – Introduction to Susanne Parry

(02:45) – The Cumberland's transformation journey

(08:20) – Building relationships in a digital world

(15:40) – Designing digital experiences that feel human

(22:10) – Preserving emotional connection in an automated world

(28:35) – Journey orchestration: the "human + digital" model

(34:50) – Reimagining key member journeys

(41:15) – Blending technology with empathy at scale

(47:30) – Empowering teams through data and digital tools

(53:45) – Personalizing interactions across channels

(59:20) – Financial wellness as a mutual differentiator

(1:05:40) – The evolving role of building societies

(1:11:25) – Key takeaways and final thoughts

(1:14:00) – Episode wrap-up