Subject category:
Strategy and General Management
Published by:
Stanford Business School
Version: 10 November 2019
Length: 17 pages
Data source: Field research
Abstract
This case describes the transformation of the UK's oldest financial services franchise from a product-aligned and brick-and-mortar traditional banking institution to a customer-aligned and digital-first technology organization. The case parallels Lloyds' business transformation with the growth of its digital-focused Transformation division - which commenced as a small hundred-person task force and ultimately grew to comprise one third of the bank's 70,000 employees.
Time period
The events covered by this case took place in 2019.Geographical setting
Region:
Europe
Country:
United Kingdom
About
Abstract
This case describes the transformation of the UK's oldest financial services franchise from a product-aligned and brick-and-mortar traditional banking institution to a customer-aligned and digital-first technology organization. The case parallels Lloyds' business transformation with the growth of its digital-focused Transformation division - which commenced as a small hundred-person task force and ultimately grew to comprise one third of the bank's 70,000 employees.
Settings
Time period
The events covered by this case took place in 2019.Geographical setting
Region:
Europe
Country:
United Kingdom