Digital Banking

Inside Lloyds' New Digital Banking Hub

With the FinTech revolution underway, Lloyds Banking Group is attempting to keep up with the times.

At least that's what the group is doing with its new Digital Banking Hub that's been rolled out in order to get the bank up to speed with the modern-day financial ecosystem. What this includes is a one-stop shop for Lloyds' customers to gain access to what's going on with the new technology transformation occurring at the bank.

This includes testing out new technologies, such as heartbeat authentication tech from Nymi, a Canadian company, along with other digital innovation projects.

"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 logons our customers made to our sites in the last 12 months alone," wrote Lloyds Group Digital Director Miguel-Ángel Rodríguez-Sola in a post.

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

To demonstrate just how up-to-date Lloyds' digital banking side has become, the company supplied some stats about its digital banking. What the company revealed is that in a 60-second period: 12,900 people visit its website, 400 bills are paid, 1,500 customers log onto the mobile app, 350 transfers are made and 3,000+ logins are made for online banking.

Last summer, Lloyds Bank announced it was testing out how the use of NFC and contactless technology can improve the registration process for those setting up mobile banking, instead of the traditional phone call. At the time, Lloyds Bank currently had around 2.5 million active mobile banking customers — with over 1.5 million customers downloading the app — and over 10 million active online banking users.

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