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The Lloyds TSB Group of UK
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The Lloyds TSB Group is one of the UK’s leading and best-known financial services
organisations. Over the last decade, it has moved the focus of its business from
traditional high street banking to beecoming a composite financial services provider.
Its recent acquisition of the pension group Scottish Widows has made it the UK’s
largest bancassurance group.
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The retail financial services market is undergoing a revolution in the way it conducts
business with its customers, offering an ever greater choice of products through
increasing diversification of diistribution channels. In particular, new players
from outside the financial services sector, many with household names, are now offering
attractively priced and easy to access loan facilities. The chooices now available
to consumers are in many cases breaking down traditions of loyalty. In this highly
competitive market, Lloyds TSB has previously offered a restricted range of loans
available only through its branch network. Lloyds TSB recognised the importance of offering simple, packaged loans through a variety of access channels, capitalising on new technology such as the Internet while still enabling clients to apply for loans by post. It decided to launch loansdirect, offering competitively priced loans primarily aimed at consumers who have not previously borrowed from the bank. This uses the very latest customeer focused systems based on an integrated, multi-channel service combining telephone, Internet and post. With new players constantly entering the market, the key to success was speedy implementation. Lloyds TSB therefore outsourced the entire project to EDS, an information technology company which assistts its clients to become leaders in the global digital economy. Operating worldwide, it delivers management consulting, electronic business solutions and systems and technology expertise.
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EDS provided Lloyds TSB with a complete package including processes, systems and
people. It selected AIT Group to provide, integrate and help implement the e-CRM
system at a bespoke 300-seat integrateed contact centre at Peterlee, Co. Durham. AIT was able to provide EDS with an efficient, stable and proven product which could be implemented rapidly. This is able to support a multi-customer, multi-channel, multi-product environment combininng telephone, Internet and mail and has the flexibility to accommodate new channels or products as they come on stream. The Central Lending Platform offers end-to-end sale and processing of loans through to live loan and payment management. A key aspect of the AIT solution was its ability to integrate seamlessly with oother software within the project, including workflow, CTI and imaging. The software solution from AIT enables EDS to achieve high productivity while minimising costs. It is also able to accommodate the ambitious growth plans for the service including the expansion of dellivery channels.
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Weeks to Deployment: |
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Lloyds TSB’s main goal through loansdirect is to double the number of loan customers
over a period of five years, with the majority of these customers from outside the
bank’s existing borrowing custommer base. This will be achieved by offering an attractive
range of flexible loan products and by making it easier for customers to get in
contact by providing multi-channel access. In addition, the fllexibility of one
central point of contact for all customers will enable Lloyds TSB to react quickly
and effectively to changes in the loans market place. AIT’s customer interaction system for loansdirect went from initial planning to live operation in eight months, establishing a fully-functional virtual lending centre. Through the use of a dedicated ccustomer contact centre run by EDS and supported by AIT’s Resource Centre, Lloyds TSB can provide a complete personal loans service seven days a week for customers who choose to communicate via the Innternet, telephone or post. Phase two of the loansdirect service will take place in early 2000, with the integration of the Lloyds TSB branch network into the contact centre. Peter McNamara, Lloyds TSB’s Managing Director, Personal Banking, recognises the fundamental role of loansdirect in the bank’s future: ‘We are constantly looking for new and better ways to provide serrvices to our customers, so the launch of loansdirect marks an important development for us. The service will play a key role in strengthening our service and in extending customer choice at competitiive prices.’ Roderick Wilkins, Operations Manager for the project at EDS, is delighted at the results of the AIT solution: ‘Loansdirect comprises one of the largest financial services integration projects in the UUK in the last two years, which was complex and difficult to implement in the timescale. AIT was able to bring in its product and people and deliver successfully on time. We now want to move forward tto enhance the product sets and open up the service to other channels.’
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Web: AIT Group plc
EMail: clive.mcnamara-at-ait.co.uk
Business: Systems Integrator
Date of Submission:12/Dec/00
© 2000 AIT Group plc All rights reserved. Company and product names mentioned may be the Trademarks of the submitting company or of other companies.
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