Lloyds Creates New Digital Banking Hub

Lloyds Banking Group has launched a new digital banking hub. The purpose behind the creation of this hub is to provide a look at the out-of-sight work undertaken by Lloyds to push its business into the 21st century. One blog post reveals that Halifax, the high-street bank owned by Lloyds Banking Group, has trialed technology which uses a customer’s heartbeat as security authentication for its digital financial services while another provides a profile of the bank's Director of Innovation Claire Calmejane.

Lloyds Banking Group is the largest provider of digital banking products in the UK. Day after day, more and more customers are logging into their accounts to the extent that last year, there were 1.2 billion logins on its digital banking services. Around 3.5 million customers’ banking needs are met online per year through their relationship brands: Lloyds Bank, Halifax and Bank of Scotland.

Introducing the new site, Lloyds Group Digital Director Miguel-Ángel Rodríguez-Sola, stated, "As digital has become an intrinsic part of our everyday lives, it has also become interlinked into every part of our business—something demonstrated by the 1.6 billion log-ons our customers made to our sites in the last 12 months alone.

"We are, without doubt, in one of the most exciting stages of transforming Britain banks and we want to provide you with the insight of the work that goes into creating a world-class digital experience."

Lloyds Banking Group has come up with a new infographic in which it is explains what happens in 60 seconds at Lloyds Banking Group. Check out this infographic for a snapshot of transactions, logins and views that occur every single minute.

The most powerful bank-owned alliance in authentication and digital banking industry could be a sign that banks are looking to embrace their own opportunities.

UK banks are propagating differentiated banking actions, which reflect a new line of thinking. With the exponential increase in digital growth in the UK banking industry, renowned banks have reacted by digitizing their core product sets, making services easier to use for end consumers. The sector has started articulating new banking models which go beyond bricks and clicks so that they can adapt with the demand of the time. These innovations are likely to save on costs, as well as improving customer experience.