One of the world’s largest banks has announced its collaboration with a popular low-code company in a bid to develop a new digital saving service. Its hoped the partnership will radicalise interactions with customers.

Nationwide has teamed up with OutSystems with the aim of delivering new fintech solutions which will digitally transform both the market and the company itself.

With over 15 million members and 19,000 employees, the bank is one of the largest in the world. One of its main focuses is on savings and Nationwide currently provides business saving products for the SME (small-to-medium enterprise) market. This includes offering instant access, notice and fixed-term savings accounts to companies, charities, and the public sector.

Presenting a service

“Our focus over the past 130 years has always been about delivering legendary services to our members,” said Darren Bailey, Head of Product Management at Nationwide. “As such, we were keen to continue to deliver innovative digital services that enable our business customers to quickly access the information they need at their fingertips. The OutSystems low-code application development platform will enable us to do this.”

“OutSystems is fantastic for the speed with which an application can be released, which gives us the flexibility to react to changing customer requirements, remaining agile as a business,” said Bailey.

The availability of the product

The teams expect the product will be launched early next year with the digital business savings banking service currently being worked on by the IT specialists.

“We are delighted to help Nationwide Building Society on its digital transformation journey, enabling the delivery of web and mobile digital banking capabilities at unprecedented speed,” added Garry Larner, Regional Director Financial Services & Insurance, OutSystems. “This is a major step forward for Nationwide Business Savings in empowering its customers.”