Nationwide tests using technology to bring financial services to communities left without a Bank

18 November 2016

  • Nationwide Building Society to open a new branch in Glastonbury harnessing the latest technology with face to face personal service
  • Society tests the viability of using technology to bring financial services to communities left without a bank
  • Opening follows successful public consultation in which local community pledged their support for a Nationwide branch

Nationwide Building Society is today announcing that it is to open a new branch in Glastonbury following a consultation with the town’s community. The Society believes that there is still a role for the branch on the high street by offering people the choice of managing their money using the latest technology in branch together with the personal service so many value in a digital age. This pilot, if successful, will enable Nationwide to test the viability of whether it can use its investment in technology to bring financial services to communities left without a bank.

This move comes as Nationwide continues to see demand from members for branches, as evidenced by the fact that of all new current account openings during the first six months, over half were opened in a branch and almost 20% of those were opened through Nationwide NOW1. It is this investment in technology that is enabling Nationwide Building Society to explore bringing branches back to communities in a sustainable way.

Opening in the heart of Glastonbury next Summer, the branch will see the return of a financial services provider to the area. The branch will combine the very latest in new technology including Nationwide NOW coupled with the very best customer service, delivered by Nationwide colleagues who will be on hand to provide advice and support to its members.

Joe Garner, Nationwide Building Society’s Chief Executive said: “As a building society, we are motivated by a powerful social purpose, continuing to seek ways to make a tangible difference to members’ lives through our mission of building society, nationwide. Our investment in Nationwide NOW, combined with personal service, is what allows us to explore this in a sustainable way. The people of Glastonbury have been crying out for a bank, we can offer them something different, a building society!”

The Society intends to work closely with the local people to ensure the branch is designed to provide the services and facilities residents require. In addition, the branch team will look to support the local community with a range of bespoke initiatives intended to benefit the community in Glastonbury.

Nationwide Building Society will continue to look to identify premises and consult further with the local Glastonbury community to open its branch in 2017.

Notes to Editor:

1About Nationwide NOW
Nationwide NOW is the Society’s high definition video link, connecting customers in branch with Nationwide financial consultants around the country. The facility allows customers to complete mortgage applications and attend financial planning appointments at a time that suits them, without having to wait for an in-branch consultation.

About Nationwide

Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.

Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 18,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

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