How Lloyds Banking Group Uses FICO Platform to Say Yes to More Customers
FICO Platform enables Lloyds Banking Group to impact one out of two households in the UK and delight its customers. The bank is on a journey to migrate to the cloud as its foundational technology, which supports automation across the bank. Lloyds Banking Group, with FICO Platform, has the capabilities to be agile and scale up quickly to new verticals or opportunities in the market
Ian Rockliffe, the Head of Consumer Credit Risk Transformation at Lloyds Banking Group, said, "When we say yes, we have the ability to influence one out of every two households in the UK.” The bank is committed to innovating and enhancing customer experiences. Lloyds Banking Group uses the "best data, best technology, and the best culture and people," as Rockliffe states, to not only meet but exceed customer expectations in a dynamic financial environment.
Lloyds is committed to being accessible and supportive, adapting to the evolving needs of modern consumers. According to Rockliffe, one of the bank's mottos is "Be by your side," emphasizing the bank's flexible approach to customer service across multiple channels, including in-branch, online, and mobile banking, ensuring a consistent and supportive banking experience.
The bank is on a technology journey, moving to FICO Platform in the cloud. This transformation is part of the bank's broader strategy to leverage cloud technology to enhance scalability and agility, enabling them to swiftly adapt to new market demands and opportunities.
Hashtags:
#BeByYourSide
#AgileScalable
#DelightCustomer
Chapters:
00:001- Introduction to Lloyds Banking Group - Ian Rockliffe gives an overview of the bank's ability to impact UK households and the responsibility and opportunities this creates
00:12 - Core Strengths, Data, Technology, and People - the bank's foundational strengths in data, technology, and cultural practices contribute to their success
00:18 - Lloyds Banking Group's motto - "Be by your Side"
00:20 - Customer Engagement Strategies - the bank meets customer needs across various channels, emphasizing the importance of accessibility wherever customers prefer
00:31 - Technological Advancements - Details on the bank's journey towards cloud technology and the recent integrations with FICO Platform and Google Cloud to manage consumer loans
00:52 - Foundational Technology - FICO Platform is the foundational technology that supports consumer and commercial business to assist Lloyds Banking Group in approving more loans
01:05 - Adapting to Market Dynamics - The bank has the technology to respond to new market players and their strategy to remain agile and scalable
01:26 Cultural Focus and Future Outlook - Concluding remarks on the importance of agility in Lloyds' culture to quickly meet new opportunities and Ian Rockliff's proud role in the organization.
---
Check out our blog: https://www.fico.com/blogs/
SUBSCRIBE: / @fico_corp
Follow us:
---
Twitter – / fico_corp
Instagram – / fico_corp
Facebook – / ficodecisions
TikTok – / fico_corp
ABOUT FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at www.fico.com