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Digital Solution Helps Drive Nationwide Building Society's Aim to Become

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Digital Solution Helps Drive Nationwide Building Society's Aim to Become CASE STUDY Financial Services Digital solution helps drive Nationwide Building Society’s aim to become 90% paperless 42 million Accessible by 90 million images available 6,000 members of staff images scanned About Nationwide Building Society Nationwide Building Society’s origins lie in the Provident Union Building Society (Wiltshire, 1846), the Northampton Town & County Freehold Land Society (Northampton 1848), and the co-operative movement in London (1884). Following numerous mergers, most importantly the merger with Anglia Building Society in 1987 and the Portman Building Society in 2007, Nationwide Building Society is the now the world’s largest mutual financial institution, the UK’s second largest mortgage provider, and one of the UK’s largest savings providers. The Callenges Why EDM? Nationwide Building Society’s long history and successful growth When Nationwide Building Society merged with Portman in 2007, through a number of mergers and acquisitions meant that it had EDM Group already had a well-established relationship through accumulated millions of documents and microfiche images over time its work with both the Staffordshire Building Society and Portman that were difficult to access and manage. Its aim was to become itself, providing a range of document management services. As a paper-free in order to: result of this relationship, EDM was able to engage with Nationwide Building Society’s business logistics and operations teams, who had Meet regulatory compliance requirements responsibility for implementing a consolidated document archive and Provide the highest quality service to customers retrieval solution. Free up and realise expensive real estate in multiple locations Nationwide Building Society’s objectives from the solution were to address current business needs, provide for future digital Revolutionise working practices without adding to its cost base transformation requirements and meet all regulatory standards for data storage, data privacy and data management. EDM provided Nationwide Building Society considered setting up an in-house consultancy services to establish the most cost-effective and efficient scanning department to digitise its paper and microfiche records but approach to achieve these goals within budget and timescale. found the cost of this to be prohibitive when compared to third party services. Sharron Townsend, Service Delivery Manager at Nationwide Building Society, explains: “Even at this early stage we were planning to become completely digital at some point in the future, aiming to be 90% paperless by 2020.” www.edmgroup.com CASE STUDY Financial Services Customer Quote From the initial scanning services provided by EDM to the most recent Branch Retention project, we have worked shoulder-to- shoulder“ on our digital journey from consolidation of multiple records and formats through transformation of our processes and document management policies right through to governance of all customer data. Finding a partner that can provide support, consultancy and hands-on implementation across all stages of digital transformation“ is a challenge, finding a partner that can work with you to achieve true Thereturn EDM on investment Solution in a strict regulatory environment is even more difficult.Outcome Yet that is what EDM has delivered to Nationwide over the past decade – in our view, EDM’s technology is the future. Sharron Townsend, Service Delivery Manager at Nationwide Building Society The EDM Solution Added Value The backbone of the solution proposed was EDM’s hosted information The EDM consultancy, design and commercial teams worked management system, EDM online, which was to become the central closely with Nationwide Building Society to create a service that has repository and access channel enabling the amalgamation of customer and market focus at its core but is also agile in its response diverse media and storage areas across Nationwide Building Society. to changing needs and an ability to integrate with new and emerging EDM online enabled Nationwide Building Society Users to access technologies. analogue and electronic records directly from their desktop. The EDM scanning bureau provides a daily scanning service for The scope of the implementation touched many areas of Nationwide ongoing document storage as well as completing other discrete Building Society’s business, including IT, logistics, lending, taxation, projects as demand arises. investments, mail room and archiving. The key archive repositories were located in Summerhouse Road, Northampton, Parkstone, A key element of the managed service provided by EDM to Bournemouth and Stor-a-file, Bournemouth. Nationwide Building Society is the safe and secure destruction of paper documents, an important part of data privacy and data EDM appointed a dedicated EDM Transition Team to each location management policy. and they engaged closely with Nationwide Building Society staff to listen, learn and lead the archiving process so that the implementation Outcome of the centralised system was a positive, problem-free experience for everyone involved. The original, highly successful scanning and archiving programme, which led to EDM being named as Nationwide Building Society’s EDM undertook extensive consultation exercises with all of the Innovation Supplier of the Year, was followed by a series of further business areas affected by the programme and many of the features projects, all of which have been delivered ‘glitch-free’ and resulted in designed and built into the solution accommodated their specialist a total of more than 42 million images being made available online to requirements. Importantly, for a company on its digital transformation 6,000 members of staff within Nationwide Building Society. journey, the system also incorporated a mechanism to integrate analogue technologies into a digital desktop solution. These included a project for accounts payable, which helped to ensure that invoices were paid accurately and on time, and a Digital The next step was to source and kit out a dedicated, highly secure Mailroom project which saw EDM handling ISA applications on behalf building to house all of Nationwide Building Society’s paper and of Nationwide Building Society. microfilm archives, enabling EDM to provide a managed document archive and retrieval service to the whole building society. This involved Most recently, Nationwide Building Society has worked closely with moving an initial 69 thousand boxes of documents and 75 cabinets of EDM on its Branch Document Retention project, which began in 2014 microfiche to the new archive. The documents are scanned as a scan and involved the scanning of customer documentation to ensure that on demand service at EDM’s flagship facility in Wolverhampton by all branches were fully compliant with data privacy and anti-money its skilled team and uploaded to EDM Online, available to view at the laundering regulation. desktop within four hours of being requested. This project was delivered within two years and under budget. EDM Online enables Nationwide Building Society staff to instantly Altogether, 36,000 boxes were collected and 90 million images access Nationwide Building Society’s scanned customer archives, scanned. This project enabled Nationwide Building Society to identify allowing them to handle customer queries in real-time, instead of files of all closed accounts, which could then be securely destroyed having to request copies of paper documents. In the first phase of or deleted. In line with Nationwide Building Society’s original objective the project, EDM made 24,500,000 images available via EDM Online. to future-proof solutions, the project also provided a best practice document management process for branches to assure the adoption of best practise going forward. Contact a specialist Connect with EDM Call: 0800 731 4911 Email: [email protected] www.edmgroup.com.
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