Download the case study to understand:

  • How Arctick is delivering real savings for Nationwide through automation and centralisation of risk, governance and compliance
  • The customisable dashboard delivers real time intelligence and escalation for the Nationwide senior management team
  • By removing manual risk processing Nationwide has seen incident volumes increase by 200% as the true picture of incidents is captured

“The existing relationship and the proven capability of Styles&Wood
to develop a risk management platform, were key factors in the decision.”

Overview

At the turn of 2014, Customer Service & Operations, within Nationwide Building Society embarked upon an exercise to review their current system that supported its risk management and control processes. With significant knowledge of existing expensive systems available, Nationwide saw an opportunity to do something different, and with the engagement of existing technology provider Styles&Wood, started to develop a new solution with the appropriate level or risk, controls and incident activity in a uniquely flexible and configurable framework.

The solution was developed over a period of 18 months and trialled with a small team before rolling out to the wider operational base of 4,500 users.   Today, the risk and incident modules are live and operational, and the control module is in the process of being rolled out in phases over the coming months. This said, confidence around the operational efficiencies of the solution are high to such an extent that the decision was made, with the full support and backing of Nationwide, to make the system available to the wider market place.  As we are set to embark on the ‘Arctick’ product launch, we take this look back over the process, the key drivers and the key benefits that Arctick delivers.

Accurate Reporting

The Incident Report module, has created a single area for reporting operational risk incidents across the business area.

Improved Transparency & Value

The Control module allows business controls to be established against individual or groups of risks.

Reduction of Incidents & Losses

The intuitive user interface leaves less rooms from user error and has helped to simplify the risk management process.

Automated Reporting

The launch of the module enabled Nationwide to move all local and divisional risk from manually produced reports into the system.