Rackspace Technology's E-book, "Digital Modernisation in UK's Building Societies," addresses the critical need for these financial institutions to adapt amidst intense competition from traditional banks and agile fintech startups. The document highlights challenges such as undiversified business models, limited pricing power, and low profit margins, which hinder relevance and sustainable growth. The solution presented involves embracing digital transformation, specifically cloud-based platforms, AI, and machine learning. Rackspace Technology, introduced as a multicloud solutions expert, offers the expertise, strategic flexibility, and end-to-end solutions necessary for building societies to modernize their IT. This enables them to leverage existing ecosystems, personalize operations, enhan

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