Nationwide posted a surge in profits this week, reporting a 155% rise in half-year underlying profits in the 6 months to September.

Largely driven by its highest new mortgage lending figures in 5 years, Nationwide now accounts for more than 1 in 5 of all first time buyer mortgages, as new initiatives such as the Government’s Help to Buy scheme support a housing market revival.

With a wave of new current account customers coming from high street banks, Nationwide’s share of the current account market has also increased, from 5.2% to 6%. Opening more than 214,000 current accounts and successfully attracting 54,000 customers to switch from high street banking rivals during the 6 months to September, Nationwide has proved itself a credible alternative to the big banks.

The mutual’s strong reputation for customer service is attracting new customers and is reflected in its leading place in KPMG Nunwood’s Customer Experience Excellence results. Moving up 26 places since 2012, Nationwide is the leading building society and 3rd placed financial services provider overall. The building society stands out for integrity and empathy against the rest of the industry, as its customers cite a transparent approach to rates and a professional and caring manner as reasons for choosing Nationwide.

The 2013 UK Customer Experience Excellence Top 20

This is the fourth annual assessment of the quality of customer experiences as delivered by the UK’s top companies.

During October 7,500 customers were asked to rate their experiences with over 250 brands and to explain the rationale behind their scores. The resulting league table is based on an index that reflects the performance of these brands across multiple experience dimensions and then the influence these scores have on future behavioural intentions e.g. advocacy and re-purchase loyalty.

Click to see the UK’s top 20 Customer Experience leaders

November 20, 2013
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