Building society announces business transformation plan fuelled by new technology

Nationwide Building Society has announced a £300m business transformation plan based around the implementation of SAP banking software.

Under the service-oriented architecture (SOA) system, the financial services institution hopes to streamline its core processes while supporting business growth and reducing costs.

Nationwide is the first UK-based banking institution to use the SOA-enabled version of the SAP banking package and will aim to implement it by 2012.

“In order for Nationwide to continue to stand out from competitors and meet tomorrow’s business challenges, we must ensure we have the right technology in place to support our growth strategies,” said Nationwide director of business systems transformation Darin Brumby.

“We want to be at the forefront of this new innovation and exploit the benefits for our customers and deliver the very best products and services to members,” he said.

Other partners joining SAP in Nationwide’s IT upgrade include Capgemini and IBM.