Nationwide Building Society, the world’s largest building society, has selected data and payments platform Moneyhub as its data enrichment and categorisation partner.
The partnership will see Moneyhub’s AI-driven technology deployed to create new spending insights for all of Nationwide’s 16 million customers across the UK.
Unlocking granular data
Under the agreement, Moneyhub’s “Categorisation and Enrichment” engine will analyse every transaction made by Nationwide members, from standard card payments to direct debits. The aim is to transform raw transaction data into granular, understandable insights.
For customers, this means access to far richer transaction details than standard bank statements typically provide. Features will include clear merchant identification—such as website URLs and specific store contact details—alongside location data pinpointing exactly where a payment was made.
Sri Kanisapakkam, chief data and analytics officer at Nationwide, commented on the strategic value of the collaboration: “At Nationwide our tech teams work to deliver fairer, more rewarding and more convenient banking, so selecting the right partners is crucial, to make sure we’re giving our customers the best experience possible. Moneyhub’s AI-driven tech will help enrich the data we’re giving back to our customers and set us up for success with even more personalised products and services in the future.”
Combating fraud and improving wellbeing
Beyond general financial management, the enriched data is designed to help customers spot anomalies more quickly. By providing clearer details on who was paid and where, the system helps users identify fraudulent transactions instantly, allowing the building society to provide immediate support.
Alastair McGill, chief executive officer at Moneyhub, added: “Moneyhub exists to help our financial services clients build services that improve their customers’ digital experience and deliver better financial outcomes. Presenting retail customers with a fine-grained understanding of their income and expenditure is an essential part of this journey, so we’re delighted that Nationwide selected our Categorisation and Enrichment engine.”
The deal underscores Nationwide’s continued investment in digital capabilities following its acquisition of Virgin Money, which solidified its position as the second-largest provider of mortgages and retail deposits in the UK.