When discussing Susan Allen, Chief Executive of Yorkshire Building Society (YBS), it was immediately clear that her passion for purpose-led leadership is as real as it gets. Since stepping into the role in March 2023, she’s been driving a bold digital transformation across the organisation—one that’s about more than just tech upgrades. “From the start, what excited me was the opportunity to lead an organisation that has such a strong social mission,” she said. “We’re here to support members at key moments in their lives, and that purpose underpins everything we do.”
With more than 25 years in financial services—including time at Barclays and Santander UK—Allen brought serious experience to the table. But at YBS, she’s charted a path that’s not just about business acumen. It’s about aligning innovation with empathy.
“When I joined, one of the biggest priorities was to modernise how we serve members,” she stated. “We’ve all seen how quickly consumer behaviour is changing—people expect to manage their finances on their own terms. So our focus has been on building a digital service that’s flexible, intuitive, and still deeply personal.”
Under Allen’s leadership, YBS has invested heavily in its digital capabilities. Whether members want to manage their accounts on the go, visit a branch, or call in for help, the goal is simple: give them the freedom to choose. “It’s not about going digital for the sake of it,” she said. “It’s about giving people more control and convenience in how they interact with us.”
To make that happen, YBS teamed up with some of the biggest names in tech—Tata Consultancy Services, Cisco, Mitel, and more. “TCS has been a particularly important partner,” Allen explained. “They’ve helped us rethink our core systems so we can be more agile, scale faster, and improve the digital experience for our members. It’s not just about the back-end—it’s also about how easy and accessible everything feels for the user.”
And the results? They speak for themselves. In 2024 alone, YBS completed over 41,000 residential mortgage deals, with gross lending hitting £9.7 billion. “That kind of growth doesn’t happen by accident,” Allen stated. “We’ve streamlined mortgage applications, made onboarding simpler, and sped up how we serve people—and that’s making a real difference in a tough economy.”
She also pointed to a sharp rise in digital engagement, saying, “Since we kicked off the strategy, we’ve more than doubled how often members interact with us online. People are happier with the experience, and that’s reflected in our Net Promoter Score, which reached a record high last year.”
But while digital is a big part of the story, Allen is equally focused on community impact. She’s hands-on, too—literally. In October 2024, she joined the CEO Sleepout at Elland Road Stadium to raise money for FareShare, a charity fighting hunger and homelessness. “That night really brought home how important our work is,” she recalled. “Helping people find a place to call home, improving financial wellbeing—these aren’t abstract goals for us. They’re real, and they matter.”
Through partnerships with groups like the Good Things Foundation, YBS is also tackling digital exclusion. “We’ve helped more than a thousand people in Bradford boost their digital skills and confidence,” Allen stated. “It’s about making sure no one is left behind as we move forward.”
That inclusive ethos carries over internally, too. YBS was named one of the UK’s top ten family-friendly employers in 2023. “I’m so proud of our teams and the work we do to support each other,” Allen stated. “Our Parents and Carers Network has been especially instrumental in shaping a culture that works for real people with real lives.”
Leadership at YBS is evolving as well. In 2024, Annemarie Durbin became the Society’s first female Chair. “It’s a historic appointment,” Allen stated. “Annemarie brings tremendous experience and a global perspective that will be key as we look to the future.”
Financially, YBS is in a strong position. In 2024, the Society posted a core operating profit of £345.7 million, with pre-tax profit reaching £383.7 million. But Allen is quick to connect those numbers back to the mutual model. “We don’t have shareholders—we’re here for our members. So when we succeed, they benefit directly through better savings rates, new services, and stronger community investment.”
Of course, her transition into the role wasn’t without headlines. A £2.5 million “golden hello” package drew some public attention. “I understand the scrutiny,” she acknowledged. “But packages like that are standard in the industry when someone’s leaving significant compensation behind. What matters to me is what we do from here—and I think our track record is starting to show that.”
Looking ahead, Allen remains focused on delivering the final stages of YBS’s 2025 strategy. “Transformation isn’t just a project—it’s a mindset,” she said. “We’re not just trying to keep up with change; we’re actively shaping it, in a way that’s right for our members and true to who we are.”
As we wrapped up our conversation, what keeps Susan motivated? “It’s simple, really. I believe in the power of financial services to do good. And at Yorkshire Building Society, I get to be part of an organisation where that’s not just a slogan—it’s the everyday reality.”