In August 2020, Nationwide was one of the first financial services providers in the UK to invest in Form3 via its Ventures Fund. Now the organisation will become one of the first major financial services organisation in the UK to adopt Form3’s platform.
Form3’s technology will enable the Society to use a cloud-native payments infrastructure to provide greater capacity and mean that regular maintenance can be completed without service interruption for members. The platform is also designed with flexibility in mind, making for easier implementation of new rules and standards as well as increasing the speed of deployment for new features and payments functionality.
This partnership is the latest step in the Society’s cloud strategy, which aims to use the power of cloud technology to support the evolving needs of its members. Last year Nationwide implemented its new Speed Layer technology, enabling the faster deployment of new products and services and it is already supporting more than 26 million weekly app log ins. The Society’s Mortgage Switching Service has also been powered by cloud native technology since 2018, and more than 320,000 mortgage switches have been made during this time.
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