Nationwide: Video Banking to Generate 200 Jobs

The UK building society Nationwide is planning to bring in a video banking facility, called the ëNowí system, designed to reignite banking in branch. Trials of the facility have been taking place in 62 branches and now Nationwide want to bring an updated version to some 25 branches by next week. This scheme is set to create around 200 new jobs up and down the country.

If the scheme is successful in these first 25 branches there are plans in place to bring this technologically innovative service to as many as 400 branches in Britain. The ëNowí system means that customers can come into the equipped branches and interact with a mortgage expert through an HD video portal.

The group distribution director, Graeme Hughes, has argued that the service was much more sophisticated and useful than simply ìvideo conferencing.î He stated that customers using the video portal would be able to use the aid of Nationwide experts in a dynamic very similar to meeting them in the flesh. Customers will be able to fill out their mortgage applications as a result.

The mortgage experts that will serve as advisers to the lucky customers will be based at three separate sites around the country. They will be placed at Dunfermline, Bournemouth and Northampton.

Mr. Hughes highlighted the fact that the video banking facility would mean more branches could offer their customers a greater range of financial products and that it could also prevent the some branches being shut down. This video facility is one of the fruits of a £300 million investment into the branch set-up at Nationwide.

Britainís largest building society have also said that if all goes well with this new service, the future could see it introduced as a home banking facility.

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