3 minute read
Cambridge & Counties Bank
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Growing relationships
Staying relevant to brokers and customers
Simon Lindley Chief Development Officer Cambridge & Counties Bank
market, many of which championed technology as a differentiator, leaving customers and brokers spoilt for choice. Those lenders who relied solely on price began to feel the pinch.
Branching out
This summer Cambridge & Counties Bank celebrates its 10th anniversary, and it’s a great opportunity to look back on our journey, as well as think about what the future has in store. I feel privileged that I’m in a position to do this since the anniversary marks 10 years for me at the Bank too.
Strong roots
When we began, the lending market was a different place in terms of competition, pricing, and outlook. The challenger bank sector was just starting to gain momentum as it grew to fill the void vacated by high street banks in the wake of the financial crisis.
At that time, customer service across the industry was a mixed bag, especially for brokers. This made it relatively simple for us to launch a proposition which focused on customers and brokers. Pricing came second. The market continues to evolve but I’m glad to say, what hasn’t changed is that there is still a firm place for funders which put customers and brokers first. And that includes Cambridge & Counties Bank with its locally-based, experienced frontline team, delivering what we say we’ll deliver. A reputation for reliability and delivery is hard won and easily lost, and I am very proud of our record.
Over time however, the competition grew along with pressure to put pricing centre stage. A few years later, more funders entered the
A true relationship model is not just about new business, it’s about managing customers, brokers and staff through the cycle and being there when needed. When COVID struck, not only did we see a doubling of new business, we kept a strong focus on supporting our existing customers and their brokers. We also took care of our team. Switching to working from home was a great test for the culture of our business and I am delighted and proud of how my colleagues responded in order to maintain the reliability and commitment to service for which we are known.
Positively blooming
Last year, as the pandemic eased, more funders entered or returned to the market creating more choice for the customer. Against this strong competitive backdrop, it was particularly pleasing to deliver an 18% year-on-year asset growth, as well as witness our loan book pass the £1 billion milestone. We have achieved this by continuing to adapt and expand our frontline geographical coverage and through maintaining our focus on service. Looking forwards, our aim is to deliver more of the same; a sustainable growth plan based around an experienced team that builds strong relationships with the broker community, backed by great service. This is very easy to say and a lot harder to deliver, but if the last 10 years has taught me anything, it is that you cannot stand still and expect to get the same results.
For this reason, we have partnered with nCino, and together we are undertaking a significant upgrade to our processing systems. Not only will brokers be able to monitor at first-hand the progress of all their deals, but the time to drawdown will be shortened. We are also expanding our real estate and asset finance frontline teams. With more feet on the ground, we will remain closer to our brokers and customers and increase our presence across the UK.
And the next 10 years? Cambridge & Counties Bank began with the philosophy of putting brokers and customers at the heart of everything we do, and we see no reason to change such a simple, yet winning formula. We hope you stay for the ride.
