March 15, 2013 03:00 ET

Nationwide Transformation Programme Delivers Innovative Products and Real Customer Benefits

LONDON, UNITED KINGDOM--(Marketwire - March 15, 2013) - Nationwide Building Society today launches FlexPlus, its newest current account and the latest market leading product made possible by the Society's new banking platform.

Nationwide has completely transformed its technology, enabling it to create innovative new products and services to meet the changing needs of customers. FlexPlus, which is the Society's first packaged account offering a wide range of benefits including worldwide travel insurance, mobile phone insurance, UK and EU breakdown assistance and much more, joins a list of ground-breaking developments including:

• The launch of FlexDirect, a self-service current account paying a market-leading credit interest rate of 5% p.a./AER

Mobile banking app, which has proven to be a real customer favourite with over 400,000 downloads since its launch, allowing customers to do all their banking on the move

• Brand new online bank, having been first to launch internet banking in 1997

ISA track and trace service, to give customers peace of mind

• Mortgage processing software, to speed up mortgage offers

• New data centre

The new banking platform went live at the end of last year and is crucial to the development and roll out of new products and services. It was a significant milestone in Nationwide's transformation programme and plays a fundamental role in its future proofing and ongoing innovation.

Tony Prestedge, Chief Operating Officer at Nationwide, explains: "Meeting the needs of our customers is at the heart of everything we do and our investment in technology gives us the tools we need to do that. Our focus has been on providing our customers with new and better ways to do business with us and a greater choice in transaction methods that meet their needs, as well as improving the choice of products and services.

"The mobile banking app is an excellent example of this with the feedback from customers showing this has been really well received. It's easy to use functionality means customers can now check balances, and make payments on the go which is increasingly important to consumers as we now all expect a variety of ways to bank."

Tony Prestedge, continued: "The new banking platform delivered with our technology partner IBM and technology providers SAP and Axxiome, went live last year and is at the heart of our new FlexDirect and FlexPlus current accounts. The platform enables Nationwide to create more flexible products, providing our members with more choice and helping to ensure we bring competition to the current account market. This is just the start of a series of planned developments to make us a more agile, innovative and responsive financial services provider."

The Society's commitment to delivering innovative and customer focused benefits is ongoing. This year it will continue to lead the way with yet more pioneering developments designed to help make life easier and better for customers.

Notes to editors:

About Nationwide Building Society

Nationwide is the world's largest building society as well as the second largest savings provider 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 members.

Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 15,000 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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