UK: Targets £4.1bn tech investment

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national wide building society

UK’s Nationwide Building Society: Targets £4.3 billion investment over the next five years

  • Used for the usual “growth” plans
  • Explore entry into new markets such as SME
  • Launched a new £50 million fintech fund in June
  • 750 and 1,000 jobs created and the opening of a new technology hub.
  • Address six areas. These comprise
    • Revamping underlying application and infrastructure
    • Developing a greenfield digital platform
    • Investment in branches – such as video
    • vague “service experience”
    • Reducing current data stores from 20 to two
    • Investment in artificial intelligence (AI) and machine learning