Читать книгу Transactional to Transformational - Christer Holloman - Страница 16

 Total assets: £900 billion

 Number of customers: 30 million

 Number of branches: 2,000

 Number of employees: 60,000

 (Approximate as of 2020)

LBG is one of the largest financial services groups in the UK, providing a wide range of banking and financial services, focused on personal and commercial customers.

The Group's main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. Services are offered through a number of brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows, and a range of distribution channels. This includes the largest branch network in the UK and a comprehensive digital, telephony and mobile services.

Since 2018, LBG has had their strategic priorities focused on the financial needs and behaviours of the customer of the future and they break it down into four themes:

 Leading customer experience. In order to be the best bank for customers, they recognise that they must continue to adapt to changes in customer behaviour, technology‐driven competition and regulation. Their propositions must be reflective of heightened customer expectations for ease of access, personalisation and relevance, as well as the needs created by changing life patterns. In September 2020, their digital bank had 17.1 million active users.

 Digitising the group. Their cost position and customer franchise are sources of competitive advantage. However, they are not complacent and realise they must further digitise the group to drive additional operational efficiencies, improve the experience of their customers and colleagues and allow them to invest more for the future. In addition, they must continue to simplify and progressively transform their IT architecture in order to use data more efficiently, enhance their multichannel customer engagement and create a scalable and resilient infrastructure.

 Maximising the group's capabilities. To better address their customers' banking and insurance needs as an integrated financial services provider and improve their overall experience, they want to make better use of their competitive strengths and unique business model.

 Transforming their ways of working. Their colleagues are crucial to the success of their business. In order to deliver their transformation during the current strategic plan and beyond, their colleagues will require new skills and capabilities to reflect the changing needs of the business as it adapts to the evolving operating environment. At the same time, colleague expectations of their employers are changing. As a result, they are making their biggest ever investment in colleagues to ensure that they continue to attract, develop and retain these skills and capabilities, while fostering a culture that supports a way of working that is agile, trust‐based and reinforces the group's values.

To deliver this ambitious transformation, LBG increased its strategic investment to more than £3 billion over the plan period.