Lloyds TSB: Retail Banking Competitor Profile

Date: 2015-11

This profile benchmarks Lloyds TSB’s customer satisfaction, customer trust, and customer perception ratings in terms of innovation and digital offerings against its rivals and the industry as a whole. It looks at the bank’s penetration in key product areas, cross-holding rates, and marketing.

– Gain an insight into customer perceptions of Lloyds TSB on issues of account satisfaction, trust, and innovation.
– Discover Lloyds TSB’s market share in key product areas.
– See how Lloyds TSB compares against rivals and the industry on key metrics.

– What do Lloyds TSB customers think about the bank?
– How does Lloyds TSB compare against its competitors on key metrics?
– What is Lloyds TSB’s marketing strategy?

Key Highlights
Lloyds TSB customers have fewer very satisfied current account customers compared to the national average. To some extent, the similarity to the UK average is to be expected due to the bank’s significant representation within the market.

Generally speaking UK banks are not seen as being part of a particularly innovative or fast-moving industry. Although Lloyds TSB, along with the majority of its major competitors, has kept up to date with the latest technologies, these offerings do not make it innovative or cutting-edge.

Lloyds TSB is in an enviable position of having one of the highest product cross-holding rates among its peers. This demonstrates the value of providing the majority share of current accounts, the cornerstone of retail banking products.”

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