Nationwide Building Society, the UK’s largest
building society by assets, has partnered with IBM,
US-headquartered multinational technology and consulting company,
to launch a new internet bank, with the aim of providing an
improved banking experience to customers with new functionality and
interactive features.
Among the new features is a spending graph
that will allow Nationwide customers to compare their income
against expenditure. Customers will also be able to see a calendar
view of their transactions and account statements through the new
Nationwide online banking system.
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By GlobalDataThe new Nationwide online bank has begun a
phased go-live last week. “The
needs of the consumer were placed at the heart of the new online
bank,” head of channel integration for Nationwide, Richard Searle,
told RBI.
IBM and Nationwide have worked together to
revamp the online banking system – from strategy design through to
the implementation of the online bank.
Said David Terry, IBM Nationwide programme
director, IBM global business services, UK and Ireland, “Digital
channels are the battle grounds for retail banks and IBM is
committed to working with our clients to find new ways to improve
the customer experience whilst ensuring efficiency and
competitiveness.
“Nationwide’s new online banking system
combines innovative technology and simplicity to create a solution
that meets the needs of customers in today’s competitive market
place.
IBM and Nationwide, reportedly, set out to understand the banking
needs of customers before revamping its online bank and the final
solution has been designed based on input from 1,250 of customers
and tested with over 2,700 Nationwide employees.
“Major investments in new technology can often
be derailed by a change in vision or the benefits diluted. By
structuring our approach to give customers a voice from the start,
we were able to build and maintain confidence in our vision and
avoid costly late change,” added Terry.
Nationwide’s online customers will be
“migrated” to the new online banking platform in batches by the end
of December so that the shift is not too sudden, Searle informed
RBI.
Get the October issue of RBI to read the
full interview with Nationwide’s head of channel integration,
Richard Searle, about Nationwide’s revamped online banking
platform, as well as other upcoming plans.
