Nationwide Building Society is a British mutual financial institution and the largest building society in the world. It has its headquarters in Swindon, with an office in Threadneedle Street, London, and administration centres based in Bournemouth, Northampton and Dunfermline.
Made up of over a hundred mergers — most notably its merger with Anglia Building Society in 1987 and Portman Building Society in 2007 — Nationwide is now the second largest provider of household savings and mortgages in the UK. It also has a 7.1% market share of current accounts and was ranked number one for customer service satisfaction amongst its high street peer group for the three months ending 31 March 2016.
For the financial year 2015/2016, Nationwide had assets of around £208.9 billion compared to £331 billion for the entire building society sector, making it larger than the remaining 44 British building societies combined.
It is a member of the Building Societies Association, the Council of Mortgage Lenders and Co-operatives UK. In 2016 Nationwide appeared 3rd in The Sunday Times 'Top 25 Big Companies To Work For' poll, up from 6th in 2015.
| Products | Retail banking, savings mortgages, investments, insurance, current accounts, loans, credit cards |
|---|---|
| Key people | David Roberts, chairman Joe Garner, chief executive |
| Industry | Banking and financial services |
| Headquarters | Swindon, Wiltshire, England |
| Founded | 1846 (earliest components) |
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Yes, it is.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Financial Services / Banking is 18.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If Nationwide Building Society sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of Nationwide Building Society with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
How are your customers satisfied depending on:
| Company | Score |
|---|---|
| Nationwide Building Society | 43 |
| SunTrust | 45 |
| UkrSibbank | 39 |
| ING Direct Australia | 38 |
| The Royal Bank of Scotland International | 50 |
| eChoice | 33 |
| Tesco Bank | 28 |
| Santander UK Banking | 27 |
| Aldermore | 22 |
| Virgin Money | 19 |
| Score | Date | Source |
|---|---|---|
|
43
|
2015-04-22 | http://www.research-live.com/first-direct-tops-nps-benchmark/4013222.article |
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