Lloyds Banking Group
Lloyds Banking Group plc is a major British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. The Group is listed on the London Stock Exchange (LSE) and is a constituent of the FTSE 100 Index.
The Group has over 30 million customers and is the UK’s leading provider of current accounts, savings, personal loans, credit cards and mortgages.
Operating a multi-brand strategy, the Groups main brands include; Lloyds Bank, Bank of Scotland, and Halifax. Through it’s main brands, the Group has over 2,000 branches throughout the UK.
“The overall cost-effectiveness and efficiency of our print and mailing operation improved considerably thanks to the involvement of the Altus management team. It was a pleasure working with such motivated and knowledgeable consultants.”
Cara Murphy, Director, Global Head of Supplier Management
Case Study
The Challenge
Lloyds Banking Group was working to optimise efficiency through adopting a uniform approach for delivering services.
An examination of the holistic cost-base identified print & postage as a major area of expenditure arising from the range of inherited legacy systems. The bank recognised the requirement to engage
resource with expert knowledge of the postal sector to support a transformation programme, which rationalised this business-critical activity.
Solution
The bank engaged Altus who provided the print & postal expertise for the bank through their specialist and deep industry knowledge. Working closely with the client Altus supported the development of the systems and approaches for rationalising mailing services across the entire group.
Efficiency was optimised and print & postal costs significantly reduced through the engineering of a new infrastructure that sourced the best-fit lowest cost delivery channel for the entire complex range of the bank’s applications.
Benefits
Altus involvement, working directly with the Lloyds Banking Group Procurement team injected the necessary resource and expertise to accelerate the design and implementation of the new print & postal platform, delivering savings sevenfigure sum savings early in the process. This proactive approach delivered a lower cost-mailing infrastructure, which successfully extracted significant recurring annual savings for the client from the budget.
Deliverables:
- Accelerated implementation.
- Early delivery of savings.
- Creation of entire bid-cycle documentation.
- Migration to lower cost options.
- Proactive cost management.
- Maximised access to discounted postage rates.