Building legendary service
Emma’s sons told her they wanted to look after their own money. That’s why she took Carl and Jacob into their local branch to open their very own FlexOne current accounts.
“I chose Nationwide because I wanted an organisation that I can trust to look after my sons’ interests. The team were so welcoming and I knew instantly that I’d made the right choice. To me, a building society feels safer and more caring than the big banks, and that’s what I want for my boys.”
Carl and Jacob had a fab time when they went into branch and met Luke, one of our Personal Banking Managers.
“We loved opening our accounts. Luke was really nice and he told us all about saving our money. He even told us we own Nationwide and that we’re his boss!”
Emma’s really pleased that she and her family have a branch nearby.
“It means we feel like we have a real relationship with Nationwide. It makes us trust them and know that we’re part of something. And thank you so much to Luke for being so amazing. You made my boys feel like they matter. That they’re not just a number.”
“You made my boys feel like they matter. That they’re not just a number.”
We all know what good service feels like. When we’re in a hurry, it’s quick and efficient. When we’re facing a dilemma, it’s unhurried and personal. Good service is not ‘one-size-fits-all’ but combines the best of human and digital interaction to serve our members well however they choose to interact with us.
We start from a strong base. For seven years running, we’ve been no.1 for service among our peer group1. We’ve moved up to joint fifth in the all-industry UK Customer Satisfaction Index, achieving our target of being in the top five2. Our current account satisfaction is also ahead of our peer group, with a lead of over 10%3, and we were named Which? Banking Brand of the Year for the second year running.
Service expectations continue to grow, and we continue to work hard to improve our member experience. We are investing £350 million in transforming our branch network, while pledging that every town and city with a Nationwide branch will continue to have one until at least May 2021. Simultaneously, with mobile users up by 33% last year, we are investing in our digital services, bringing new levels of speed, convenience and security to our members.
Branches: here today, here tomorrow
Branches are a vital part of our local communities and valued by our members. We believe that members still want to talk to someone face to face about big financial decisions, which is why we continue to invest in our branches. We’ve recently pledged to keep a branch in every town or city where we have one today for at least two years.
However, it’s also true that how our members use our branches is changing. That’s why we are evolving the role of branches and transforming our network with a £350 million investment over five years. We’re introducing new branch styles. Last year, we converted over 100 branches to an open plan format combining the latest technology, such as high-definition video and iPads, with comfortable seating for coffee and conversation, and private spaces for personal consultations. We also merged a handful of branches which were near each other and refurbished the remaining branches to offer better services and technology.
Alongside our branches, members want to make the most of the speed and convenience of digital devices. We now have over 2.7 million members who are active mobile users – almost a third more than last year – and they are logging in, on average, nearly every day.
Net satisfaction with our app is over 90%4 but we are not complacent and we continue to invest in our digital services to give members more control over their money. New mobile functionality means members can now set up new payees, report lost or stolen cards, set up standing orders, and change their passcode on the move.
We’ve redesigned some of our processes to make it faster and easier to take out a mortgage or open a current account online, and we will be extending these improvements to more of our services over the next few months.
We’re also exploring how we can use Open Banking rules that apply across our industry to put members in control of their money. Since last year, members have been able to share their financial data with Open Banking approved third-parties. We have also trialled an aggregation service in our mobile banking app that lets members see their accounts with multiple providers in one place. We will roll this out to members this year.
We will be able to go further and faster in developing our digital services over the next few years, thanks to our technology investment, and this will help the Society meet the changing lifestyles of our members, providing them with excellent service however they choose to deal with us.
Peer group defined as providers with main current account market share >4% (Barclays, Halifax, HSBC, Lloyds Bank, NatWest, Santander and TSB).