Nationwide selected a new payments system based on the Form3 solution hosted on AWS's multi-tenant cloud. The Form3 account-to-account platform connects financial institutions to payment schemes such as Faster Payments and BACS, and enables them to future-proof operations against regulatory changes such as ISO 20022.
Form3, an Accenture partner that provides an enterprise-grade payment technology platform on the cloud, offers native integration with AWS. This helps to simplify and speed up migration. Accenture and Form3 are collaborating closely throughout this program, building on their well-established partnership.
Drawing on its cloud expertise, Accenture helped Nationwide to review the functional, technical and delivery capabilities required to modernize its payments environment and transition to the cloud. This included building cloud-based development environments and tooling as well as embracing DevOps and agile development principles and practices.
Nationwide worked with Accenture to deliver a minimum viable service (MVS) which enabled the delivery of the first cloud-based payment ‘single-penny transaction’. The MVS was completed within five months in 2022 and involved the integration of Nationwide’s technology stack with Faster Payments and Form3.