Nationwide to Launch New High Tech Mortgage Service With Cisco
LONDON, UNITED KINGDOM -- (Marketwired) -- 11/05/13 -- Cisco
(NASDAQ: CSCO) -- Nationwide Building Society has today announced
plans to introduce a new mortgage service, delivered remotely, from
over 60 branches throughout the UK by the end of Spring 2014 (see
list below). The innovative Cisco Remote Expert solution is a cutting
edge technology which enables customers to "meet" with a mortgage
consultant through a high definition video link. These consultants
are able to offer the same beginning-to-end and fully-compliant
mortgage service as an in-branch consultant.
Built on Cisco TelePresence and collaboration technology, the service
allows full beginning to end mortgage appointments, with customers on
one end of the video link and a skilled mortgage consultant on the
other, based in Nationwide's Contact Centre in Northampton. The high
definition video link and shared screen system allow for an
interactive display, while the attached printer provides the
paperwork necessary to complete a beginning-to-end and
fully-compliant mortgage application.
Nationwide operates a network of around 700 branches across the
country with a specialist mortgage consultancy force of around 400;
therefore it is not always possible to have a mortgage consultant
available in every branch. Remote Expert increases the accessibility
of mortgage consultants for customers, reducing waiting times for
appointments and ensuring customers do not have to travel further
than their local branch to speak to a mortgage consultant.
Nationwide is the first bank in Europe, the Middle East and Africa to
use this technology in this way. The service has been well received
by customers after a successful trial in six locations, with 93% of
participants who used the solution reporting that they thought it was
a good or excellent replacement to a face to face meeting.
Graeme Hughes, Nationwide's distribution group director, said: "The
trials have gone very well and we've found customer feedback
overwhelmingly positive. We interviewed customers from all walks of
life, young and old, and 93% rated the service as good to excellent
as a face-to-face replacement. Given our excellent reputation for
customer service it's
vitally important that the way we use
technology adds to our service rather than detracts.
"The roll out of this service to over 60 locations by the end of
Spring next year will mean even more members have the opportunity to
access our mortgage deals. Our eventual aim for Remote Expert is for
a full roll out across our branch network to include our entire
Phil Smith, CEO, Cisco, UKI, said: "Cisco is all about connecting the
unconnected. In today's device-rich world, consumers are becoming
more demanding of the banking industry than ever before. Customers
expect to be able to access financial experts whenever and wherever
they are, and via multiple channels. With Remote Expert, Cisco is
helping Nationwide deliver a seamless banking experience and get even
closer to its customers."
Cisco's 2013 Visual Networking Index Forecast, launched earlier in
the year, highlighted the growing influence that consumers are
placing on the use of video in their daily lives -- predicting that
nearly two billion Internet video users globally will be generating
three trillion Internet video minutes per month, by 2017.
-- View Cisco Remote Expert website
-- View video and case study on Nationwide use of Cisco Remote Expert
Technorati Tags: Retail banking, Nationwide, Cisco, building society,
Remote Expert, TelePresence, Collaboration, Video Conferencing,
About Remote Expert:
Remote Expert trial took place in six branches
(Aberdare, Abergavenny, Bangor, Goole, Ikeston and Pontypridd)
between February and April 2013. Using Remote Expert, 336 interviews
took place resulting in 172 product sales, and 93% of customers rated
Remote Expert as an excellent or good replacement for an in-branch
face to face appointment.
Nationwide is the world's largest building society
as well as the second largest savings provider and a top-three
provider of mortgages in the UK. It is also a major provider of
current accounts, credit cards, ISAs and personal loans. Nationwide
has around 15 million members.
Customers can manage their finances in a branch, on the telephone,
internet and post. The Society has around 15,000 employees.
Nationwide's head office is in Swindon with administration centres
based in Northampton, Bournemouth and Dunfermline. The Society also
has a number of call centres across the UK.
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