Case study

Nationwide cut declined transactions by 95% using Visa Analytics Platform¹

Nationwide Building Society used actionable insights from Visa Analytics Platform to reduce costs, improve decline reporting and better understand the member authentication journey

Nationwide Building Society logo overlay on a decorative image of a lady looking at phone and credit card Nationwide Building Society logo overlay on a decorative image of a lady looking at phone and credit card

Challenge

Nationwide sought to better understand its member journey in order to better serve its customers, as well as to achieve PSD2 compliant strong customer authentication (SCA) and increase cost savings. Nationwide decided to increase its number of Visa Analytics Platform users to expand access to easy-to-digest payments intelligence.

Solution

Visa Analytics Platform provided fast access to transaction data and insights with customizable, easy-to-understand dashboards and reports — empowering users at Nationwide to better understand performance issues, identify growth opportunities and find effective solutions.

Visa Analytics Platform helped enable Nationwide to increase business efficiency and decision-making agility. By making Nationwide’s Visa transaction data readily available in numerous formats, including interactive visualizations and customized reports, Visa Analytics Platform empowered users to dive right into the data, rather than having to wait for up to a week for data requests to be fulfilled by the central team at Nationwide.

Using the Visa Analytics Platform, Nationwide developed a customized dashboard to help work toward PSD2 Strong Customer Authentication (SCA) compliance. Nationwide used the SCA dashboard to analyze member usage of different authentication methods, including banking app, email, SMS, card reader and landline. This helped Nationwide identify its banking app as its member-preferred authentication method and recommend it to other members, delivering improved member experience and cost savings. Nationwide also used the Visa Analytics Platform to monitor soft declines and incorrectly flagged Merchant Initiated Transactions to help identify the associated merchants in order to optimize payment flows and thereby support SCA rollout across the industry.

Results

Visa Analytics Platform helped Nationwide drive cost savings by lowering system integrity fees. By using data available through the Visa Analytics Platform, Nationwide identified an opportunity to lower system integrity fees by reducing the number of transactions declined under the generic 05 “do not honor” reason code. Using these insights, Nationwide adjusted its decline code reporting strategy, resulting in a 95% reduction in declined transactions coded as 05 “do not honor”.

Cost savings

through reduced system integrity fees and visibility on increased usage of in-app authentication method

Customized dashboard

to work toward PSD2 SCA compliance

Enhanced access to data

through easy-to-use, customizable dashboards

Nationwide is currently using Visa Analytics Platform to further improve transaction decline rates by slicing declined transaction data by reason code, card type and member demographic to help identify key insights about member behavior within different groups. This analysis will empower Nationwide to improve the member experience by delivering alerts and notifications that help members enter their account information correctly the first time.

About Nationwide Building Society

Nationwide Building Society, the world’s largest building society,² is a mutual financial institution owned by its 16.3M members. Located in the United Kingdom, Nationwide provides mortgages, savings, loans, current accounts and credit cards.

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  1. Nationwide Building Society reported a 95% reduction in declined transactions coded as 05 “do not honor”
  2. https://en.wikipedia.org/wiki/Building_society

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