Nationwide Building Society creates a first-rate mobile banking offering

Published on 06-Sep-2013

"The IBM Global Business Services teams helped us maintain our brand and create a compelling and competitive mobile banking offering within our budget." - Richard Searle, head of channel integration, Nationwide Building Society

Customer:
Nationwide Building Society

Industry:
Banking

Deployment country:
United Kingdom

Overview

Nationwide Building Society was an early adopter of online banking, but as technology developed, it recognized a competitive gap within the industry. the bank needed to reengineer its existing Internet channel.

Business need:
Nationwide was the first organization to offer online banking in the United Kingdom. However, as communications technology develops, people’s expectations of self-service through mobile channels using dedicated applications for smartphones required Nationwide to revisit the capabilities of its existing mobile platform. Nationwide recognized a competitive gap within the industry both in terms of channel costs and digital reputation. Nationwide needed to capitalize on its rebuilt online banking experience and exploiting the multichannel architecture of its Internet bank.

Solution:
The IBM Global Services – Global Business Services team reengineering its existing Internet channel help create a competitive mobile banking solution. The Global Business Services team provided project leadership, governance and innovation to help ensure that the solution would not only meet immediate needs but also embed the technical capabilities to support the financial services provider’s future growth. The IBM Global Business Services – Application Innovation Services team provided architectural, quality assurance, development management and test resources for the project.

Benefits:
Nationwide gained a highly credible, compelling and competitive mobile banking offering, while reducing the costs of creating mobile channels and improving its members’ mobile banking experience.

Case Study

Founded in 1846, Nationwide Building Society (Nationwide) is a member-based financial-services provider headquartered in Swindon, England. It offers mortgage loans and personal-banking services and products to 16 million members. Nationwide maintains a significant web presence, with roughly 4.5 million monthly visitors, and approximately 700 branches.

Challenge
Nationwide was the first organization to offer online banking in the United Kingdom. However, as communications technology develops, people’s expectations of self-service through mobile channels using dedicated applications for smartphones required Nationwide to revisit the capabilities of its existing mobile platform. Through the success of its competitors’ mobile banking offerings, Nationwide recognized a competitive gap within the industry both in terms of channel costs and digital reputation. Essentially, its competitors were broadening their channels to allow low-value transactions to move to mobile banking, freeing their branches for higher-value mediated or regulated transactions and sales. Nationwide
realized the need to keep up with the competition by capitalizing on its rebuilt online banking experience and exploiting the multichannel architecture of its Internet bank.

Solution
The IBM Global Services – Global Business Services team analyzed the client’s business and found that reengineering its existing Internet channel would lay the perfect foundation for creating a competitive mobile banking solution. The Global Business Services team provided project leadership, governance and innovation to help ensure that the solution would not only meet immediate needs but also embed the technical capabilities to support the financial services provider’s future growth. Meanwhile, the IBM Global Business Services – Application Innovation Services team provided architectural, quality assurance, development management and test resources for the project.

To help ensure a successful delivery within the constraints of a fixed-price, multiple-subcontractor agreement, the Global Business Services team managed the project by using a hybrid accelerated development methodology. It started by setting up three-week workshops and review sessions to cover the project’s key aspects. IBM involved current and prospective Nationwide members from the start, taking the existing Internet bank functionality and generating the requirements for mobile banking. This provided rapid
engagement and advocacy, which helped ensure that all development efforts closely matched members’ needs. This customer-oriented approach continued throughout the full eight-month mobile banking project.

Benefits
• Created a highly credible, compelling and competitive mobile banking offering
• Reduced costs of creating mobile channels
• Improved its members’ mobile banking experience and optimized value transactions.

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