Newcastle Building Society to manage accounts for Heritable Bank

Heritable Bank, the UK incorporated bank established over 130 years ago, has switched the administration and back office processing of its current and new savings book to Newcastle Building Society in a planned strategic overhaul.

Heritable Bank, part of the Landsbanki Group, is to enhance its existing telephone and contact centre offering with the use of services managed by Newcastle Building Society. These include the full use of a telephone contact centre and processing services.

The Newcastle Building Society operations team working on behalf of Heritable Bank will be based at the Society's newly acquired premises, Cobalt Business Park, North Tyneside. The new site is additional to the Society's Principal Office in central Newcastle at Portland House and will accommodate its growing subsidiary company Newcastle Strategic Solutions Limited (NSSL).

NSSL is the business to business arm of the Society providing Card Payment Solutions, Mortgage Processing and Building Society Solutions in addition to Savings Management. Job creation as a result of Heritable Bank enforces Newcastle Building Society's pledge to create at least 500 jobs in the region at Cobalt by 2012.

Simon Healy, Head of Savings at Heritable Bank, commented: "Outsourcing our savings management to Newcastle Building Society will ensure our customers continue to receive the highest service dealing only with experienced specialists. The additional benefits offered by Newcastle Building Society such as the automated processes, infrastructure and workflow will help achieve service levels expected by today's customers."

Colin Greaves, Operations Director Newcastle Building Society, commented: "As a trusted provider of business to business provisions we are competent in offering bespoke services tailored to the individual needs of a business. Heritable Bank is a proactive company, changing and adapting to suit market trends; we look forward to welcoming them to Newcastle Building Society and the opportunity this brings."

The management of Savings Accounts for Heritable Bank launches in April 2008 and joins a client base managed by Newcastle Building Society that includes Icesave, Bradford & Bingley, Bank of Ireland and FBN Bank with Firstsave.