Latest news with #Converge™
Business Wire
06-05-2025
- Business
- Business Wire
West Brom Building Society Announces Major Digital Transformation with Deloitte and 10x Banking
LONDON--(BUSINESS WIRE)-- West Brom Building Society, the UK's eighth largest building society is embarking on its digital transformation journey working with the technology team at Deloitte, the professional services firm and 10x Banking, the cloud-native meta core banking platform. West Brom Building Society is pleased to be working with Deloitte and 10x to deliver the next stage of its digital transformation, putting the right technology in place to continue providing excellent service to its customers in a digital world. The transformation programme will ensure the business continues to meet the evolving needs of its customers, around choice, flexibility and the ability to access services in the way that suits them best. The news comes as the building society sector prepares to mark its 250th anniversary at the 2025 Building Societies Annual Conference, highlighting the pressing need for mutuals to innovate through modernising their technology and delivering on their purpose, in a world increasingly driven by digital customer experience and AI enhanced business processes. Jonathan Westhoff, Chief Executive Officer, West Brom Building Society said: 'We chose to work with Deloitte and 10x because they understand what matters to us as a mutual – our customers. Working on this together is an exciting step forward in building the digital service and technology we want for the future. It's based on the simple premise of helping our customers in the way that suits them best. As expectations grow and technology evolves, we want to make sure we're right there with them, responsive and ready for what's next in their financial lives - whether that's buying their home or growing their savings for a more secure future.' West Brom Building Society is the eighth largest building society in the UK and has been supporting its customers for over 175 years since it was founded in 1849. The adoption of Converge™ by Deloitte, fully integrated to 10x Banking's platform, will enable West Brom to unify its systems on a cloud-native architecture designed for mutuals. It will enable rapid product launches and allow customers to transact as they prefer - without incurring outsized complexity, cost and risk. Converge™ by Deloitte is a modern composable accelerator designed to help banks and building societies deliver new digital capabilities at pace. The relationship between West Brom, Deloitte and 10x Banking, encompasses a multi-phase transformation strategy, enhancing West Brom's digital savings products, migrating existing accounts to Converge™ and the 10x platform, and unlocking greater value across its mortgage portfolio. Jonathan Gray, UK Head of Banking Technology and Transformation at Deloitte said: 'Building societies play a prominent role in the UK savings and mortgage sector, combining financial stewardship with social purpose. We're proud to be working with West Brom Building Society and 10x Banking to facilitate the modernisation of the society's digital capability and core systems, so that they can continue to deliver value for their 400,000+ members.' Unlike traditional all-in-one systems, 10x's platform lets mutuals tailor their products using a wide range of ready-made modules, which take away all of the unnecessary complexity, ideal for institutions balancing lean IT resources with the need to differentiate and innovate at scale and speed. Antony Jenkins, Founder and CEO of 10x Banking, said: 'The West Brom's transformation is a milestone for the sector. Our meta core platform lets mutuals futureproof their operations while staying true to their purpose. As we approach the sector's 250th anniversary, this partnership exemplifies how - with the right cloud-native core technology in place – heritage, social purpose and innovation can coexist and deliver world-class financial solutions.' West Brom Building Society, Deloitte and 10x Banking will be attending the 2025 Building Societies Annual Conference, hosted in Birmingham between 7 and 8 May. Notes to editors About the West Brom The West Brom is the UK's eighth largest building society and is a leading provider of financial services. Proudly independent, West Brom Building Society is owned by and run for the benefit of its customers. Since its foundation in 1849, the Society's fundamental principles have been, and remain, to offer people the opportunity to buy their own homes and save for the future. About 10x Banking 10x Banking is a cloud-native core banking platform for financial institutions and their partners. Founded by former banking executives and built by technologists, the 10x Banking platform empowers its customers with best-in-class security, scalability and speed. Proven across transformational deployments including Westpac, Chase and Old Mutual, 10x Banking offers banks the fastest, most cost-effective and derisked path to full cloud-native transformation through its unique 'meta core' approach. Its scalable, resilient, and flexible technology is built to empower financial institutions to better serve their customers and communities. 10x Banking is a B-Corp certified business with local presence in London, UK, Sydney, Australia and Singapore and is funded by a portfolio of world-class investors including BlackRock and J.P. Morgan. For more information, visit and follow us on LinkedIn. About Deloitte In this press release references to 'Deloitte' are references to one or more of Deloitte Touche Tohmatsu Limited ('DTTL') a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of DTTL and its member firms. Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms. The information contained in this press release is correct at the time of going to press. For more information, please visit Member of Deloitte Touche Tohmatsu Limited.
Yahoo
25-03-2025
- Business
- Yahoo
Deloitte drives impact and scale in new Global AI Simulation Center of Excellence to create real-time, seamless business insights and innovation
NEW YORK, March 25, 2025 /PRNewswire/ -- Deloitte today announced the significant scaling of its Global Artificial Intelligence (AI) Simulation Center of Excellence (CoE), building on its global investment of US$3 billion in Generative AI (GenAI) through fiscal year 2030. Launched first in Bengaluru, India to serve Deloitte's global network, the Simulation CoE aims to help accelerate clients' decision-making processes, mitigate potential risks, and maximize their return on investment (ROI) deployed. Leveraging real-time insights, the CoE seeks to develop advanced visualizations, simulations and scenario modeling, digital twins, and multi-agent systems. The Simulation CoE is newly integrated into existing Deloitte Experience Centers to offer clients immersive experiences, enabling more nuanced understanding of multiple scenarios, and supporting the formulation of precise, clear and accelerated strategic plans. The CoE augments Deloitte's Global GenAI Market Incubator with its deep experience in advanced simulation, introducing a novel and dynamic approach to advising clients. "The Global AI Simulation Center of Excellence will help revolutionize the way clients approach strategy development," says Deloitte Global Strategy, Risk & Transactions leader Nicolai Andersen. "This innovative CoE couples the power of GenAI with data to deliver customized recommendations for each client, providing leaders with actionable insights rather than relying on predictions from traditional approaches. Deloitte looks forward to unveiling this to an expanded set of clients globally, helping them expedite and hone the transformation of their operations and unleashing the immense potential of GenAI." The CoE focuses on four simulations designed to help executives accelerate and improve their decision-making processes: Physical, which simulates the physical world to unlock value from AI-driven automation, AI and robotics training, and infrastructure optimization. For example, Deloitte has leveraged such simulations for warehouse automation, logistics design, and infrastructure optimization for supply chain across sectors leading to risk-mitigated testing and optimized cost for scaling. Process, which leverages AI and agentic modeling to streamline processes—including enterprise processes—to automate decision-making, optimize systematic interactions, and stress-test business resilience across a range of industries. For example, Deloitte has applied these capabilities to long-range and medium-range demand forecasting with proprietary solutions like Converge™, enabling informed supply chain and sales and marketing decisions in the consumer sector. People, which models demographic trends, human-machine interaction, and workforce requirements, focusing on increasing productivity and creating a dynamic workforce through the use of GenAI. Simulations include workforce planning and delivery transformation as clients across sectors re-imagine their business in the GenAI-enabled world. Strategic options, which models the optimal ROI associated with different strategic options. For example, Deloitte's Quartz Atlas AI™ solution applies molecular optimization for new drug discovery in life sciences. The establishment of the CoE is part of Deloitte's portfolio of offerings to serve clients around the world through its global capability and innovation centers. The CoE will serve as a dynamic hub, in orchestration with regional centers around the globe, to connect with leaders on GenAI's expansive potential. Harnessing its vast, multidisciplinary talent pool and extensive alliance ecosystem, Deloitte is creating powerful simulations and providing tailored and precise recommendations to organizations through the CoE. For example, in recent work Deloitte collaborated with strategic alliances to create enterprise simulations for the power and utilities sector, addressing key business use cases such as real-time monitoring, preventive maintenance and hazard sensing. "Deloitte's Simulation CoE in India bolsters the ability to advise clients globally—moving from discussing potential impacts to actively demonstrating how adjusting variables affects business outcomes," says Sanghamitra Pati, Managing Director, AI and Engineering, Deloitte Consulting India Private Limited. "The CoE underscores and acts upon Deloitte's belief that the future of business decisions requires a comprehensive blend of technology-driven insights with human influence and oversight." About DeloitteDeloitte refers to one or more of Deloitte Touche Tohmatsu Limited (DTTL), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see to learn more. Deloitte provides leading professional services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our people deliver measurable and lasting results that help reinforce public trust in capital markets and enable clients to transform and thrive. Building on its 180-year history, Deloitte spans more than 150 countries and territories. Learn how Deloitte's approximately 460,000 people worldwide make an impact that matters at View original content to download multimedia: SOURCE Deloitte Global
