Nationwide awards five year IT contract to Capgemini
Building society Nationwide has hired Capgemini to support it with transforming its key IT infrastructure. The deal will see the IT giant improve front-end customer digital services as well as deploy a number of back-end packages to streamline business processes and create flexible and secure cross device working environments for staff. Financial terms and conditions of the five year deal have not been disclosed.
Nationwide, founded in 1846, is with more than £200 billion in assets the UK’s largest building society, according to figures from the Building Societies Association larger than the remaining 40+ British building societies combined. On the back of its asset base, Nationwide also operates as a financial institution, and currently is the UK’s second largest provider of household savings and mortgages.
In a bid to improve the digital services rendered to its customers, Nationwide has contracted Capgemini to simplify and modernise its end user online experience. With the move, the building society aims at meeting the fast evolving business requirements and increasing expectations from customers and employees regarding the omni-channel banking environment. A recent study from Cognizant for instance shows that a key reason for customers to stay with a financial institution is the quality of its digital offering.
The contract spans five years and will see Capgemini engage three core elements to Nationwide’s front-end digital services: Service Integration, Service Desk and End User Services. Business processes and back-end IT frameworks will also be improved under the deal: by leveraging Capgemini’s Intelligent Service Centre, Nationwide will be able to implement insights gathered from data and analytics to improve the business processes; while Capgemini’s My Workspace will allow the society’s employees access to a single flexible platform environment in which they can access their data and services, across devices.
The deal will at the end of the line also bolster Nationwide’s security frontier through better internal transparency and control, and enable cost savings, say the partners in a press release.
Debra Bailey, Chief Information Officer at Nationwide, says: “In the age of always-on connectivity and mobile banking, customers expect 24-hour access and value added services from their financial institutions. To keep and attract new customers, we are creating a world class IT function that can better handle these changing demands. Capgemini’s collaborative approach, core company values and financial services experience made them the clear choice to become one of our key IT providers. We look forward to working with them to deliver the best possible experience for our colleagues and customers.”
Petteri Uljas, CEO Northern Europe of Infrastructure Services at Capgemini, says he is delighted to be chosen by Nationwide to support their digital transformation over the next five years. “Technology has re-defined financial services and customer expectations are increasing rapidly. With a strong cultural fit and ambitions to match our own, we are delighted to be working with such a prestigious organisation as Nationwide in helping them remain number one for quality and service.”
Earlier this year Bailey unveiled that the building society is saving between £6 million to £8 million in its IT costs through the implementation of a new IT measurement system.
