Nationwide upgrades credit decisioning with FICO’s cloud platform
Nationwide Building Society has teamed up with US-based analytics firm FICO to enhance its credit risk and decision-making capabilities.
Nationwide Building Society goes live with FICO Platform
As the world’s largest building society, with over 17 million members, Nationwide has gone live on FICO’s cloud-hosted solution to upgrade its decisioning across current accounts, mortgages, credit cards, and personal loans.
According to the US vendor, Nationwide’s transition to the FICO Platform was “driven by the need to mitigate the conduct risk associated with an outdated legacy technology stack, to centralise decision-making and align with the corporate strategy to transition to cloud-based services”.
Since going live with the platform, Nationwide, which processes around 1.5 million credit decisions monthly and is currently the UK’s third-largest mortgage provider, has reported a “50% reduction in the time required to update scorecards, decision trees, and other decision components”, states FICO.
Furthermore, FICO claims its platform has enabled Nationwide to implement instant credit limit adjustments while improving the accuracy of affordability assessments and income verification through integration with external data providers.
The partnership, which has so far seen the successful migration of five products, has plans to integrate overdrafts and credit line increases throughout 2025, further advancing Nationwide’s broader digital transformation initiatives.
Over the past year, the building society has collaborated with the likes of Auriga, Signly, and Red Hat, to modernise its self-service ATM channels, enhance accessibility services, and build a new Business Integration Platform.
In November 2024, Nationwide also began migrating its on-premises IT infrastructure to a hybrid cloud platform provided by Hewlett Packard Enterprise.
