Nationwide Building Society deploys NCR Skimming Protection Solution

Infotech Lead America: Nationwide Building Society, a U.K. retail banking organization, has deployed NCR Skimming Protection Solution (SPS).

The deployment is aimed at securing banking services.

The move aims to inspire consumer confidence in Nationwide’s financial services and drive customer loyalty.

The U.K. retail banker deployed the NCR security solution across 424 cash machines in the U.K. NCR recently said the IT deployment will help Nationwide to improve the availability and usability of its cash machines and manage business risk more effectively.

“Maintaining and improving consumer confidence in the services they provide is a fundamental building block for leading building societies and retail banks as they seek to improve the customer experience and increase market share,” said Rachel Nash, director of Financial Sector at NCR U.K.

Card skimming is one of the major challenges that U.K. retail banks have to address.

In the U.K. alone, fraud losses from skimming and cloning accounted for £42.1 million in 2012.

European losses due to cash machine related fraud attacks rose by 13 percent y-o-y in 2012 to €265 million.

This rise was largely attributed to card skimming attacks, which rose 12 percent from €232 million to €260 million. 85 percent of cash machine related card skimming losses are happening in countries outside of Europe, and increased 21 percent y-o-y in 2012.

“As a mutually owned organization that is focused on providing great customer service, improving consumer confidence in the services we provide is important to us,” said Jay Bourne, senior manager of ATM Services at Nationwide Building Society.

The innovative SPS provides financial institutions with a proactive way to address today’s cash machine skimming challenges and deliver maximum availability and convenience to their customers. SPS thwarts skimming activity, notifies a financial institution of an attack in real time, and adapts quickly to new types of attacks as they become increasingly sophisticated.

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