Nationwide readies location based offers app
Nationwide, the UK's largest mutual, is updating its mobile banking app which will send users special offers based on their location.
Nationwide, the UK’s largest mutual, is in the beta stage for an update to its mobile banking app which will send users location based offers for various high street stores.
There has been a lot of speculation in recent months over banks teaming up with retailers for promotions through mobile banking apps, due to their high levels of customer engagement.
However, there is concern within the industry that the use of location based offers will be too invasive for many customers.
Nationwide is currently testing its location based offer service with fast food chain Pizza Hut.
The app will be the first of its kind in the UK but follows a similar offer from Standard Chartered in May called Breeze in June 2013, which has reported good take up.
In the US, America First Credit Union (AFCU) has announced it will be offering location based offers through its mobile app for retail purchases, through its systems provider Fiserv.
The mutual upgraded its core banking platform to a real time system in late 2012, joining only a handful of large banks to overhaul their legacy systems in recent years.
Earlier this month Nationwide added a quick balance check feature to its mobile app, allowing users to check their balance without logging in.
In May Nationwide launched a remote mortgage advice service called Nationwide Now, offering advice over a high-definition video link to borrowers in 61 branches in remote locations.
The advisers are based in Nationwide’s Northampton office and will offer advice over video link to borrowers who go into branches where there is not always an adviser present.
Nationwide is one of the UK banks to sign up with VocaLink-backed payments company Zapp, launching at the end of 2014. Zapp will initially provide an online payments tool but will expand to in-store payments in 2015.