News

Nationwide Building Society is today announcing that it has invested in Ordo, an innovative payment request service launching later this year that connects billers to payers using apps and secure messaging, putting billers and their customers back in control of their payments.

Nationwide Building Society has today reduced its loan rate to a competitive 3.6% APR representative for loans of between £5,000 - £7,500.

• FinTechs to partner with Nationwide to create apps that will solve financial capability problems
• Nationwide’s £3m Open Banking for Good challenge set up to help financially squeezed
• Start-ups will be supported by experts from Nationwide, Money Advice Trust, Citizens Advice, The Money Charity, Money and Mental Health Policy Institute, Accenture, Doteveryone and Nesta as well as £3m fund from Nationwide.

• Society first on high street to offer comprehensive suite of Later Life products and advice
• Designed in response to demand from members to live their retirement of choice
• Launched first to Nationwide mortgage members and rolled out to all in summer

Nationwide launches two new highly competitive ISA products on Thursday 21 March.

• High streets must adapt to involve local communities to create vibrant, thriving meeting places

• Nationwide makes promise that every town and city with a branch will still have one in May 2021
• Promise gives ‘here today, here tomorrow’ stability from a trusted brand investing in branches

• Move forms part of unwavering focus on helping local communities realise potential and improve

Nationwide Building Society today announces it has appointed Carole Layzell as Channel Service Director. She is expected the join the Society mid-March.

• Partnership with 10x Future Technologies enables Society to build innovative digital platform
• Digital offering will be complemented by Society’s unwavering commitment to branches
• Service will evolve to respond to current and future needs of UK’s 5.7 million small businesses

• Poll shows pensioners need average of £885 a month – £380 more than the £505 state pension
• But one in three people in middle age set to retire on state pension alone – leaving £68k shortfall
• Many are worried about being able to afford retirement and living the lifestyle they want to live
• Less than one in ten have clear retirement goals and over half don’t know their pension value

Today, Nationwide has re-launched its savings range with new rates for its three and five-year Bonds and Fixed Rate ISAs (FRISA).

• New Ipsos MORI research¹ commissioned by Nationwide highlights gaps in business banking market
• Four in ten of the UK’s 5.7m microbusinesses (43%) primarily use personal current accounts to bank
• One in five using business banking services feel let down due to branch closures and hikes in fees
• Nationwide commits to shaking-up market with business account built around service and trust
• Kevin Hollinrake MP, Co-Chair, APPG Fair Business Banking: “Nationwide has a wonderful opportunity to become a key player in a market currently dominated by the Big Five”

• Rent on Bob Cratchit’s London home up 119,300% from 1843-2018, 10 times higher than inflation
• Matched growth would see homes cost around £548,076 per week in another 175 years
• Renting in London equivalent to £46 per week in 1840s vs £459 per year in today’s market
• Nine in ten Brits rented properties back in 1840s - far higher than the four in ten renting today