Purpose, progress and people - reflections on a career in transformation
Ian Stacey, Chief Information & Transformation Officer, The Cumberland Building Society
More than 40 years in financial services has provided me with a front-row seat to the industry's evolution and revealed where progress is still needed. The most valuable insights have rarely emerged from strategy or systems. Instead, they have come from people; through leadership, inclusion, and a commitment to building organisations that reflect and serve the communities around them.
My journey began in 1986 at Barclays, on a management programme designed to rotate through the branch network. It was hands-on with daily tasks like posting statements and sorting cheques, work that is now handled by automation. The programme aimed to cultivate future leaders, offering a guaranteed management grade after two years. That era marked a cultural turning point in banking, with a growing emphasis on sales as well as stewardship. It became clear that Retail financial services were becoming increasingly product sales driven, a shift that shaped the direction of many subsequent roles.
New opportunities in product development followed, including the launch of the UK’s first online-authorised debit card and the management of a national cardholder portfolio. At its peak, the debit card portfolio served around eight million customers. This phase sparked my deeper interest in the architecture behind banking; how technology, operations and people interact to drive sustainable progress.
That interest led me to take on international roles with Barclays, supporting initiatives across Africa, the Caribbean and the Middle East. My initial responsibilities focused on developing current account and card products, before expanding into broader operations and technology strategy. Living and working in countries such as Kenya, Ghana and South Africa proved instrumental in my understanding on how trust and transformation are built in complex and diverse environments.
Building on this foundation, I stepped into consulting with EY and KPMG firms' Global Banking and Capital Markets. These roles offered a wider lens on how institutions attempt change – ranging from delivering a government-backed Insurance platform in Qatar to digital banking programmes in London and the UAE. At First Gulf Bank we were experimenting with big data, AI, video banking and a lot of very interesting and innovative technology. There was real excitement about what innovation could achieve which is very much the ethos in the UAE, but equally, a sense that transformation must never lose its human touch.
That belief became a guiding factor in my decision to join The Cumberland. A single coffee with Des Moore, the Chief Executive Officer, was all it took. The conversation was honest, grounded and values driven. The culture felt different straight away. The Cumberland is shaped by community, connection and a strong sense of purpose. It reminded me of growing up in Kent, where local businesses were rooted in their communities and guided by a responsibility that extended beyond profit.
The Kinder Banking approach, with its focus on people, planet and community, felt like a natural fit and stood out as something not often prioritised across the sector. The prospect went far beyond a conventional leadership role in technology too. It was a chance to help shape long-term transformation and bring together strategic delivery with cultural values. I was given the opportunity to create an entirely new role as Chief Information and Transformation Officer. This provided The Cumberland with a platform to unite technology and transformation at a time when it felt like few others were approaching it in the same way.
The scale of The Cumberland also stood out to me. It strikes the right balance as it is large enough to deliver significant change, yet agile enough to move at pace. Without the weight of complex corporate structures, as an organisation it can stay focused on what matters most: delivering for customers, colleagues and creating lasting value that makes a difference to our members and the communities we serve.
Throughout my career, culture has always been the defining factor. Early experiences in banking during the 1980s and 1990s left a lasting impression of how exclusionary environments could limit progress. That shaped a lasting commitment to inclusion and equity. At The Cumberland, there has been a real effort to build something different particularly within the technology function and encouraging more women to enter the sector.
Our Women in Tech initiative, led by our head of technology Mags McLay, has been a crucial part of that. Job specifications have been reviewed, interview processes refined, and barriers to entry removed; not as a tick-box exercise, but to ensure opportunities are genuinely open. The group meets regularly, offering both a supportive space and a healthy challenge to do better. As a result, three of the four senior leadership roles in my leadership team are now held by women.
Alongside that we’ve introduced a Neurodiversity Toolkit developed with charity partner Owl Blue to help build a more inclusive working environment and, like transformation, it’s an area I care deeply about and act as Executive sponsor at the Cumberland.
We are now rolling out major transformation plans to meet evolving customer needs. This is more than a technology upgrade. It’s about building the foundations for the next 175 years, with a clear focus on resilience, integrity and long-term readiness.
We’re working with Tata Consultancy Services (TCS) to deliver the most significant investment in The Cumberland’s history. This transformation focuses on modernising our core systems and introducing new platforms that offer customers more choice in how they manage their finances, whether online, on mobile, by phone or in branch.
The goal is greater flexibility, delivered without losing the award-winning personal service from our colleagues that sets us apart.
As expectations across the sector continue to evolve, functionality matters, but it does not replace the need for genuine human connection. The belief that technology should enhance the human experience, not replace it, sits at the heart of everything The Cumberland are building.
After four decades in financial services, the chance to help shape something lasting, meaningful and kinder feels more relevant than ever.