Nationwide has made a strategic decision to shut down their retail banking operation; the firm said they are returning to their historical core business lines of insurance and retirement; “Retirement is their big focus; they’re getting back to that and figuring out how to support customers to become financially ready for that, and this is kind of who they’ve been in the past,” said Aite senior analyst Samantha Chow to TearSheet; Nationwide will transfer their retail banking accounts to another institution over the next several months. Source.
