KPMG Nunwood

UK Customer Experience Excellence Analysis 2016

Nationwide Building Society

Financial Serices

Nationwide takes ninth place in the 2016 Customer Experience Excellence rankings. It is a brand that has undergone some changes in 2016, with the arrival of a new CEO in April, and the appointment of a new Senior Independent Director in July. These changes are mirrored in the company’s improved customer experience performance, with Nationwide having risen 14 places since 2015.

Nationwide is a building society that has historically shown a significant amount of concern for its customers, and it has managed to retain a top 30 ranking since 2013. In the latest CEE, its strongest pillar performances can be seen in the areas of Time and Effort, Personalisation and Integrity. Integrity, in particular, has been an important pillar for Nationwide, as seen in one of the recent changes it made to its credit card operations. The current industry standard indicates that customers are required to transfer their debt to a credit card within the first three months of opening, if they are to take full advantage of any introductory balance transfer offer. However, in reality, this offer begins on the day the card is opened, and not when the balance transfer is made, meaning that if an individual waits until the last minute to carry out a balance transfer, then they risk losing a potential three months’ worth of benefit from their deal. In order to address this issue, Nationwide took the decision to honour the full balance transfer period from the day the transfer is made within the first three month window, meaning that no time is lost, and it also took steps to ensure that those customers waiting for their cards to arrive in the post could still receive the full benefit of any introductory offer.

Nationwide has also been innovative in other areas, with one of its latest creations arriving in the form of a new app. Indeed, a recent survey showed that 41 per cent of 18-24 year olds currently check their bank balances on personal smartphones1 and Nationwide appears to be responding to this trend. Its new application uses ‘behavioural biometrics’ which track and learn certain user behaviours such as finger swipes, usage times and locations, and these help to authenticate payments that are made on a mobile phone. In the future, it is hoped that the technology could also be used as a means of logging into the Nationwide service.

As such, Nationwide is a building society with its eyes fixed on the future, and this trait is an important one to possess in the sometimes-mercurial world of customer experience management.

Company Profile

Over 160 years ago we opened our doors as a building society. Run for the benefit of our members, being a building society means that we’re free to reinvest more of our profits to improve the products and services we offer.











Time and Effort