The UK-based building society has introduced a new widget that allows customers to check their credit score without affecting their credit rating. The tool is available through Nationwide's online banking platform and mobile app, and forms part of the building society's broader effort to support customers' financial health.
Addressing a gap in financial understanding
The launch follows research from the Financial Conduct Authority (FCA), the UK's financial services regulator, which examined why consumers check their credit reports or scores. According to the findings, 66% of respondents said they wanted an overall picture of their financial situation, while 41% cited curiosity as a motivating factor. One in five people (20%) said they checked their score to assess their eligibility for credit.
The same research pointed to a wider issue of consumer understanding. Fewer than two in five people (39%) who had checked their credit report or score said they understood it well, and around one in ten (9%) said they did not understand it at all.
Nationwide's new service has been designed with this gap in mind. In addition to displaying a customer's credit score, the tool sets out the factors that influence it, with the aim of helping users interpret the information and understand how it may affect financial decisions such as borrowing or applying for credit.
Planned developments
According to the building society, the credit score facility will be expanded over time to include educational content intended to help customers manage their finances and make more informed decisions about borrowing, saving and money management generally.
David Gordon, Chief Product Owner at Nationwide, said the service was designed to help customers build financial confidence and make more informed decisions about their money, noting that credit scores can be difficult for consumers to interpret.
Nationwide said it plans to draw on customer research and user feedback to continue developing the service, with particular attention to the needs of vulnerable customers.
The move reflects a broader trend among UK financial institutions to integrate credit-monitoring tools directly into banking apps, reducing reliance on third-party credit reference services for basic score checks. By embedding the feature within existing digital banking channels, Nationwide aims to make credit information more routinely accessible as part of everyday account management, rather than a separate, occasional check.
