Artificial intelligence has become a defining force in the strategy of financial services. Across the sector, organisations are racing to deploy AI to increase speed, automate decisions, and personalise journeys at scale. For many banks and fintechs, success is measured in efficiency gains and conversion rates. 

But building societies are different. Their business approach is rooted in their mutual values and needs of their members whose financial decisions are often long-term, emotionally charged, and deeply personal. Taking a technology-first mindset risks missing something fundamental, member confidence. 

At the 2026 BSA Conference in Edinburgh, Dana Lunberry explored a different way forward for building societies. Instead of positioning AI purely as a decision-maker, she reframes AI as something far more aligned to mutual values. A tool that translates the complexity, helping members to understand and not feel as if they are being processed. 

At a time when fraud and scams are accelerating in the UK and beyond, this approach to AI is both critical and timely. Nearly half (47%) of 18–34-year-olds in the UK lost money to fraud or scams in the last year, exposing how AI‑enabled threats are eroding confidence, even among digitally fluent members. In response, people are looking to financial institutions for more than protection. Research indicates that nearly 60% of people want their financial institution to provide clear, supportive information that helps them navigate complexity and safeguard their money. In this environment, AI that improves understanding and transparency becomes a powerful source of member confidence, not concern.

From automation to understanding

Much of today’s AI narrative focuses on process automation, replacing human effort with faster, smarter systems. However, in mortgage and savings journeys, friction is not solely a matter of speed. It is equally, and often primarily, a matter of comprehension. 

Mortgage terms, rate structures, regulatory disclosures, and affordability have become much more complex in recent years. Members risk feeling under-informed, anxious about getting it wrong, or suspicious of automated decisioning. Frontline teams spend significant time explaining options, rather than making decisions. This is where AI can add great value for societies. Used thoughtfully, AI excels at translating complexity into clear everyday language. This could involve converting technical information into meaningful outcomes and providing transparent explanations to members such as:

• What a 1% rate change means for a household’s monthly budget
• How different savings choices affect future flexibility
• Where the trade-offs sit in mortgage decisions

Framed this way, AI builds understanding and confidence through transparency rather than replacing human judgement. This is important to societies. Strategically, AI should translate complexity into confidence, not replace advice. 

A brand-led AI strategy for mutual organisations 

AI is no longer just a technology choice. It helps organisations shape tone, interaction style, and increasingly how an organisation is perceived. That means an AI strategy cannot be technology-led but should be brand-led and values-first. 

Banks will often prioritise speed, efficiency, and product uptake, reflecting shareholder‑driven commercial priorities. By contrast, societies are rooted in community values promoting fairness, transparency, and long-term wellbeing. Those values should play a defining role in how AI is applied and may lead to materially different choices from the way banks deploy AI. 

A brand‑led approach not only clarifies priorities for AI adoption but also establishes a clear boundary between the roles of humans and machines. 

For example, humans should remain responsible for:

•    Difficult affordability conversations
•    Emotional mortgage decisions 
•    Supporting vulnerable members

AI can support by:

•    Explaining complex information 
•    Surfacing options and trade-offs
•    Highlighting risks and scenarios
•    Providing consistency and clarity across messaging

This deliberate division promotes member trust, reduces regulatory anxiety, and ensures that the moments that define a society’s identity remain human-led. 

Loyalty, trust, and long-term value

One of the insights shared during this BSA session was that for mutual organisations, AI use cases that appear less commercial may drive the greatest long-term value. 

Capabilities such as vulnerability detection, proactive support, and financial health guidance may not maximise short-term revenue, but they significantly strengthen trust and loyalty. Over time, this compounds, driving retention, deeper member relationships, and higher lifetime value across mortgage and savings products within portfolios. 

AI strategies focused purely on shiny use cases such as next best action engines or aggressive conversion models often plateau quickly and do little to differentiate a mutual brand. Brand-led AI protects building societies from AI theatre and ensures technology strengthens their competitive identity. The commercial case is clear.

Translating complexity into trust 

During Dana’s session at the BSA Conference 2026, a poll showed that the largest proportion of respondents (40%) viewed their organisation as a “Measured Majority” when it comes to AI, while 21% viewed themselves as a “Pioneering Pilgrim” or a “Fast Follower” and 18% viewed their organisation as a “Leisurely Laggard”. Polls also showed that 50% of organisations were working on an AI strategy, 34% had a strategy, and 16% did not yet have a strategy. 

Wherever a building society is on its AI journey, an intentional AI strategy provides a means to align technology choices with brand, values and member expectations. In a landscape where many organisations are still finding their footing, thoughtful adoption matters more than speed alone.

The future of AI in building societies will not be defined by who deploys the most advanced models, but who uses AI in a way that best aligns with their values and further strengthens member relationships. AI offers an opportunity to help members to feel informed, clarify choices, address uncertainty, and support better conversations, not replace them. By positioning AI as a translator rather than a decision-maker, building societies can build greater trust, protect their identity and create a competitive advantage that is harder to replicate than technology alone. 

SBS has supported UK building societies with digital transformation and innovation for over 30 years. Through engaging partnerships with over 50% of UK building societies, SBS helps to deliver brand-led, member-centric digital engagement tools that enhance experiences and help societies maintain their mutual identity.