{"id":823971,"date":"2025-03-11T05:04:00","date_gmt":"2025-03-11T09:04:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\/"},"modified":"2025-03-11T05:04:00","modified_gmt":"2025-03-11T09:04:00","slug":"nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\/","title":{"rendered":"Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform<\/b><\/p>\n<p class=\"bwalignc\"><i>From mortgages to loans, the world\u2019s largest building society delivers real-time solutions to enhance customer satisfaction<\/i><\/p>\n<p>LONDON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>FICO (NYSE: FICO)<\/b><\/p>\n<p><b>Highlights:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nNationwide migrated 1.5 million monthly credit decisions across mortgages, loans, and cards to the cloud-based FICO\u00ae Platform in just 7 months\n<\/li>\n<li>\nResults include a 50% reduction in the time to make changes to decision components, and a 30% faster process for rolling out new strategies\n<\/li>\n<li>\nNationwide improved its Promoter Score (NPS), ranking third in the UK and first among high-street financial services providers, according to Forrester Research.\n<\/li>\n<li>\nNationwide has won a 2025 FICO\u00ae Decision Award for Cloud Deployment\n<\/li>\n<\/ul>\n<p>\nNationwide Building Society (NBS), the UK\u2019s third-largest mortgage provider and the world\u2019s biggest building society, has revolutionized its credit risk and decisioning framework with <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fico.com%2Fen%2Ffico-platform&amp;esheet=54221617&amp;newsitemid=20250311605163&amp;lan=en-US&amp;anchor=FICO%26%23174%3B+Platform&amp;index=1&amp;md5=b685c330de3004b8c68c226b08107c00\">FICO\u00ae Platform<\/a>. The transformation involved moving to a single, cloud-hosted system for decisioning across mortgages, credit cards, personal loans and current accounts, delivering what Nationwide refers to as &#8216;credit-risk-as-a-service&#8217;. Nationwide now uses FICO Platform to process around 1.5 million credit decisions monthly. This has led to a 50% reduction in the time required to update scorecards, decision trees, and other decision components, as well as a 30% faster process for implementing new strategies.\n<\/p>\n<p>\nMore information: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fico.com%2Fen%2Ffico-platform&amp;esheet=54221617&amp;newsitemid=20250311605163&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.fico.com%2Fen%2Ffico-platform&amp;index=2&amp;md5=948be6dadf9092dc7b3f534b831b461f\">https:\/\/www.fico.com\/en\/fico-platform<\/a><\/p>\n<p>\n\u201cTransforming a system of this magnitude is no small feat, but the results speak for themselves,\u201d <b>said Andrew Lawrie, tech lead for credit risk at Nationwide Building Society<\/b>.\u201d We didn\u2019t just move mortgages, loans, and cards to the FICO Platform; we reimagined how we make decisions. Now, changes that used to take weeks can be implemented in days, and our customers are seeing the benefits with faster, more personalized service.\u201d\n<\/p>\n<p><b>A Transformation to Meet Modern Banking Demands<\/b><\/p>\n<p>\nNationwide\u2019s migration to FICO Platform was driven by the need to mitigate the conduct risk associated with an outdated legacy technology stack, to centralize decision-making and align with the corporate strategy to transition to cloud-based services. By leveraging FICO Platform\u2019s orchestration capabilities, Nationwide incorporated external data providers into its workflows, enhancing decision accuracy and delivering tailored customer experiences. This centralized approach eliminated reliance on fragmented systems, enabling a smoother transition to cloud-hosted services.\n<\/p>\n<p>\n\u201cWith FICO Platform, we\u2019ve moved from a fragmented legacy system to a unified, scalable decisioning framework,\u201d <b>added Lawrie<\/b>. \u201cThis transition has empowered our teams to implement changes faster, minimize risks, and provide customers with faster, more personalized experiences.\u201d\n<\/p>\n<p>\nNationwide achieved significant milestones through its implementation of FICO Platform:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Centralized Decisioning: <\/b>Unified decision-making processes across mortgages, loans, and cards, enabling consistent application of policies and strategies.\n<\/li>\n<li><b>50% Faster Policy Changes: <\/b>Simplified workflows allow multiple resources to collaborate on changes, reducing change implementation time by half.\n<\/li>\n<li><b>Real-Time Credit Limit Increases (RCLI): <\/b>Enabled instant credit limit adjustments, improving customer satisfaction and regulatory responsiveness.\n<\/li>\n<li><b>Enhanced Integration Options: <\/b>Federated Data Orchestration supports seamless integration with external data providers, improving accuracy in affordability assessments and income verification.\n<\/li>\n<li><b>Scalable Rollout: <\/b>Successfully migrated five products in 12 months, with plans to integrate overdrafts and credit line increases by 2025.\n<\/li>\n<\/ul>\n<p><b>Results that Drive Impact<\/b><\/p>\n<p>\nNationwide\u2019s transformation has delivered significant operational efficiencies and customer benefits. Updates to decision components, such as scorecards and policy rules, are now 50% faster, and new strategies are implemented 30% quicker, allowing for greater agility. Business teams now independently manage credit risk decisioning, reducing reliance on engineering and simplifying daily processes.\n<\/p>\n<p>\n\u201cThis transformation wasn\u2019t just about upgrading technology; it was about staying true to what makes us Nationwide \u2014 our members,\u201d <b>said Lawrie.<\/b> \u201cBy moving to a unified decisioning platform, we\u2019ve made it easier to deliver smarter, faster decisions that genuinely improve our members\u2019 lives. Whether it\u2019s helping someone secure their first mortgage or offering quicker, more accurate approvals, we\u2019re building a foundation that keeps our members\u2019 needs at the heart of everything we do.\u201d\n<\/p>\n<p><b>Driving Customer Satisfaction and Industry Recognition<\/b><\/p>\n<p>\nThe transition has not only streamlined operations but also significantly improved customer experience, contributing to Nationwide\u2019s industry-leading NPS ranking.\n<\/p>\n<p>\n\u201cA 2024 report by Forrester Research put Nationwide third in the UK for Net Promoter Scores, and first among the UK\u2019s high street financial services institutions,\u201d <b>said Nikhil Behl, head of software at FICO.<\/b> \u201cThis shows the power of the intelligent enterprise Nationwide has built, using FICO technology.&#8221;\n<\/p>\n<p>\nFor its achievements, Nationwide Building Society has won a <b>2025 FICO\u00ae Decision Award for Cloud Deployment.<\/b><\/p>\n<p>\n\u201cNationwide\u2019s project reflects the precision and expertise required to migrate from legacy systems while maintaining continuity for customers and operations,\u201d<b> said Erin Stillwell, EVP, payment partnerships at Blankfactor, one of the FICO Decision Awards judges.<\/b> \u201cTheir success in implementing a scalable decisioning platform is a testament to their commitment to operational excellence and customer satisfaction.\u201d\n<\/p>\n<p>\nTo see the full list of 2025 FICO Decisions Awards winners, check out: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fico.com%2Fen%2Fdecisionawards&amp;esheet=54221617&amp;newsitemid=20250311605163&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.fico.com%2Fen%2Fdecisionawards&amp;index=3&amp;md5=4808557575ee88c0ed854adcef6d425b\">https:\/\/www.fico.com\/en\/decisionawards<\/a><\/p>\n<p><b>About Nationwide Building Society<\/b><\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.nationwide.co.uk%2F&amp;esheet=54221617&amp;newsitemid=20250311605163&amp;lan=en-US&amp;anchor=Nationwide&amp;index=4&amp;md5=34bd3d23bc150998489ec4860e076ede\">Nationwide<\/a> is the largest building society in the world, serving over 17 million customers, with 16 million of those holding a current account, mortgage, or savings product, making them members of the Society. As a mutual organization, Nationwide is owned by its members, and it focuses on providing banking products and services tailored to their needs. Nationwide employs over 18,000 people, operating from its headquarters in Swindon and more than 600 branches across the UK. Nationwide Building Society (NBS) is a significant player in the UK banking sector, being the third-largest mortgage provider and managing almost \u00a31 in every \u00a310 saved in the country. The Society also holds one in ten of the UK&#8217;s current accounts and supports landlords and tenants through its buy-to-let business, The Mortgage Works. In addition to mortgages and savings, Nationwide offers a comprehensive range of retail financial products, including credit cards, personal loans, and insurance. Learn more at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.nationwide.co.uk%2F&amp;esheet=54221617&amp;newsitemid=20250311605163&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.nationwide.co.uk%2F&amp;index=5&amp;md5=72d35f5b9e596e6de5f3a6d6c4fe688b\">https:\/\/www.nationwide.co.uk\/<\/a>.\n<\/p>\n<p><b>About the FICO\u00ae Decisions Awards<\/b><\/p>\n<p>\nThe FICO Decisions Awards recognize organisations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measurable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2025 judges are:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Regan Goble,<\/b> risk analytics senior manager at Westpac NZ (Previous Winner)\n<\/li>\n<li><b>Megha Kumar, <\/b>research vice president at IDC\n<\/li>\n<li><b>Joe McKendrick, <\/b>analyst and senior contributor at Forbes\n<\/li>\n<li><b>Luiz Pacete,<\/b> technology and marketing industry influencer\n<\/li>\n<li><b>Ali Paterson, <\/b>founder and editor-in-chief at Fintech Finance\n<\/li>\n<li><b>Mike Roberts, <\/b>head of unsecured retail risk at HSBC UK bank (Previous Winner)\n<\/li>\n<li><b>Erin Stillwell, <\/b>EVP, payment partnerships at Blankfactor\n<\/li>\n<li><b>Allan Tan, <\/b>group editor-in-chief at Cxociety\n<\/li>\n<\/ul>\n<p>\nThe winners of the FICO Decisions Awards will be spotlighted at and win tickets to <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fico.com%2Fen%2Fficoworld&amp;esheet=54221617&amp;newsitemid=20250311605163&amp;lan=en-US&amp;anchor=FICO%26%23174%3B+World+2025&amp;index=6&amp;md5=a91d730327ed17f68edf9bbb90dbb4b8\"><b>FICO\u00ae World 2025<\/b><\/a><b>, May 6-9, 2025, at the Diplomat Hotel in Hollywood, Florida.<\/b><\/p>\n<p><b>About FICO<\/b><\/p>\n<p>\nFICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO\u00ae Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency.\n<\/p>\n<p>\nLearn more at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fico.com%2F&amp;esheet=54221617&amp;newsitemid=20250311605163&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.fico.com&amp;index=7&amp;md5=513ae2c2d8e1cd1d0058b67e2e8a7f5f\">https:\/\/www.fico.com<\/a><\/p>\n<p>\nFICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250311605163r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250311605163\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250311605163\/en\/<\/a><\/span><\/p>\n<p><b><i>For further comment contact:<br \/>\n<\/i><\/b><br \/><b>FICO UK PR Team<br \/>\n<\/b><br \/>Wendy Harrison\/Parm Heer<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ficoteam@harrisonsadler.com\">ficoteam@harrisonsadler.com<br \/>\n<\/a><br \/>0208 977 9132\n<\/p>\n<p><b>KEYWORDS:<\/b> North America United States Ireland United Kingdom Europe Florida<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Residential Building &amp; Real Estate Banking Personal Finance Technology Construction &amp; Property Professional Services Data Analytics Software Internet Fintech Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform From mortgages to loans, the world\u2019s largest building society delivers real-time solutions to enhance customer satisfaction LONDON&#8211;(BUSINESS WIRE)&#8211;FICO (NYSE: FICO) Highlights: Nationwide migrated 1.5 million monthly credit decisions across mortgages, loans, and cards to the cloud-based FICO\u00ae Platform in just 7 months Results include a 50% reduction in the time to make changes to decision components, and a 30% faster process for rolling out new strategies Nationwide improved its Promoter Score (NPS), ranking third in the UK and first among high-street financial services providers, according to Forrester Research. Nationwide has won a 2025 FICO\u00ae Decision Award for Cloud Deployment Nationwide Building Society (NBS), the UK\u2019s third-largest mortgage provider and the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-823971","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform From mortgages to loans, the world\u2019s largest building society delivers real-time solutions to enhance customer satisfaction LONDON&#8211;(BUSINESS WIRE)&#8211;FICO (NYSE: FICO) Highlights: Nationwide migrated 1.5 million monthly credit decisions across mortgages, loans, and cards to the cloud-based FICO\u00ae Platform in just 7 months Results include a 50% reduction in the time to make changes to decision components, and a 30% faster process for rolling out new strategies Nationwide improved its Promoter Score (NPS), ranking third in the UK and first among high-street financial services providers, according to Forrester Research. Nationwide has won a 2025 FICO\u00ae Decision Award for Cloud Deployment Nationwide Building Society (NBS), the UK\u2019s third-largest mortgage provider and the &hellip; Continue reading &quot;Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-11T09:04:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250311605163r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform\",\"datePublished\":\"2025-03-11T09:04:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\\\/\"},\"wordCount\":1322,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20250311605163r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nationwide-speeds-up-credit-decisioning-by-50-with-fico-platform\\\/\",\"name\":\"Nationwide Speeds Up Credit Decisioning by 50% with FICO Platform - 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