Nationwide Building Society
Customer Snapshot: Overview
World's largest building society
Nationwide wanted to launch a new range of flexible products to help achieve a 10% share of the UK current account market by 2015, so embarked on a five-year core banking transformation program, with the first UK implementation of SAP Transactional Banking applications from the SAP for Banking suite of solutions. Since go-live, Nationwide has already launched two new current bank accounts with more to come, making the Society a serious challenger in the UK financial services market.
Nationwide Building Society
£190 billion (Assets)
Number of Employees
Implementation Partner URL
Swindon, United Kingdom
Axxiome www.axxiome.co.uk, IBM www.ibm.com
Line of Business
SAP Business Warehouse, SAP Process Integration, SAP Transactional Banking
Customer Snapshot: History
165 Years of Quality Financial Services
Nationwide’s origins span the second half of the 19th century, and are rooted in the mergers of three British societies. The Provident Union Building Society, established in 1846 in Ramsbury, Wiltshire UK, became the Northampton Town & County Freehold Land Society in 1848. They became the Southern Co-operative Permanent Building Society, London UK in 1884, and now have over 100 mergers behind them—most notably those between Nationwide and Anglia building societies, and between Nationwide and Portman.
Customer Snapshot: Business Model
Customer Snapshot: Success Strategy
We had three specific business outcomes that we wanted to achieve – to be the ‘challenger brand,’ based on being market leaders for customer service; to create a strong, diversified and sustainable business with improved agility and capability; and to transform our business to deliver these.— Tony Prestedge, Chief Operating Officer, Nationwide Building Society
SAP Transactional Banking solutions offered integrated, multi-channel banking services that delivered flexible product development and rapid launch with streamlined processes – key issues for Nationwide. The legacy systems at Nationwide were designed with branch banking in mind. Extending them to mobile, tablet, phone, and internet banking turned out to be a practical impossibility. SAP Transactional Banking solutions includes support for the multi-channel operations that are now taken for granted by consumers.
Nationwide wanted the security and commitment of a partner that is committed to the sector and offers a long-term strategy. In software terms, we wanted a real-time platform that we could buy, not build, and that was in production in other banks, all of which led us to SAP.— Richard Heeley, Program Director, Nationwide Building Society
Enter SAP: The SAP Experience
The product runs out of the box. All your job is, is to do the customization to meet your customers needs.— Richard Heeley, Program Director, Nationwide Building Society
Better Business: Benefits
New products are in the marketplace, and customers are receiving competitive and flexible pricing, as a direct result of the changeover to SAP Transactional Banking. Nationwide aspires to maintain and strengthen its No. 1 position in customer service in the UK. The SAP banking platform provides the foundation upon which to build toward that goal.
Along the way, we estimate that the integrated way of working enabled by the SAP Transactional Banking solutions has taken five to ten minutes off the sales process for current accounts, which approaches 60,000 administrative hours saved in a year’s sales. We have also brought the decision-making upfront in the sales process, making it faster for customers and more intuitive for staff.- Richard Heeley, Program Director
Better Business: Run Simple
The new banking platform delivered with our technology partner IBM and technology providers SAP and Axxiome, went live last year and is at the heart of our new FlexDirect and FlexPlus current accounts. The platform enables Nationwide to create more flexible products, providing our members with more choice and helping ensure we bring competition to the current account market. This is just the start of a series of planned developments to make us a more agile, innovative and responsive financial services provider.- Tony Prestedge, COO