The case of Lloyds TSB Bank

The case of Lloyds TSB Bank

INTRODUCTION

Retailing banks are under tremendous pressures of competition from other financial institutions and non-financial financial firms, and the unpredictable market dynamism. They are, therefore, constantly seeking new markets and new ways to increase their market shares and to improve their operational processes. For this reason they are targeting young people, mainly students, to open accounts with their grant cheques, and persuading them to continue banking after graduation. The process of opening a student account (OSA) is, however, debatable.

The paper reviews previous works related to the concept of process. It presents a pragmatic examination of the magnitude of service process and its influence on service quality. The question ‘How can a process be analysed for its relative efficiency?’ is one of the priorities in balancing ‘productivity’ and ‘quality’ issues. In order to analyse the efficiency of the OSA process, the authors adopt a case study approach to investigate key dimensions of the process in a local branch of Lloyds TSB Bank. Alternative frameworks are presented that are practically superior to the one adopted by Lloyds TSB. The paper concludes with the managerial and academic implications, followed by the area for future research.

 

Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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