Customers who hold a current account with Lloyds are set to benefit from a number of new product options.
Announcing its strategic review, the banking group confirmed its intentions of providing more services to its core customers. Preferential deals on life assurance and savings accounts are among the possible new products to be offered to current account holders.
The bank is also keen to extend its loan services and currency exchange options, with a focus on the Halifax brand. Antonio Horta-Osoria, Lloyds’ recently-appointed chief executive, aims to relaunch Halifax later this year with a shift to a more “irreverent, entrepreneurial” brand, the Financial Times reported.
In addition to the reforms to Halifax, the banking group aims to develop an improved “premier” service for wealthier customers, where Lloyds does not currently have a strong presence. Banking customers are also likely to benefit from improved opening hours with additional branches welcoming people on a Saturday in a bid to improve customer relations.
The news comes as the bank announced 15,000 further job cuts in the run up to 2014 as it aims to save £1.5 billion a year in light of reform recommendations from the Independent Commission on Banking.
