Treating customers fairly
Central to our aim of building deep and lasting customer relationships is our determination to treat customers fairly and ensure we are transparent in dealings with them. We conduct regular monitoring to check that we are complying with our robust customer treatment policies and are achieving fair outcomes for customers.
Customer outcomes are an important component in colleague reward and remuneration. Our approach to fair customer treatment takes product sales and after sales into consideration.
We aim to lead the banking sector in reaching those who are financially excluded and equip them with the confidence and capability to manage their money effectively.
In conjunction with the National Offender Management Service, we offer more basic banking facilities to prisoners than any other bank. In 2012 more than 100,000 customers who previously had a basic bank account either upgraded to or opened a mainstream bank account. We have recently made a number of improvements to make it easier for basic bank account customers to upgrade.
Having strong relationships with our suppliers is key to the delivery of our strategy and ensuring both the Group’s and our customers’ needs are effectively met. The Group looks to build and develop strong collaborative relationships and engage in regular dialogue, meaning we can better understand the environment in which we operate and help access and drive continuous improvement and innovation.
Through working with our suppliers, we also get the opportunity to make the most of their unique specialist knowledge in order to drive increased value and optimise our supply chain. We consider our suppliers’ social, ethical and environmental performance as a standard part of our procurement process. We are also a signatory to the Prompt Payment Code which requires us to provide clear guidance on payment procedures and encourage similar good practice amongst our suppliers and other businesses.
Online sign language service
The Group was the first financial services provider in the UK to introduce Sign Video – a sign language communication service for deaf customers. This technology enables customers to communicate in their first or preferred language of British Sign Language.
Lloyds TSB Bank plc, Lloyds TSB Scotland plc and Bank of Scotland plc (members of Lloyds Banking Group), are authorised and regulated by the Financial Services Authority. FSA authorisation can be checked on the FSA’s Register at: www.fsa.gov.uk/register/home.do. Lloyds TSB Bank plc, Lloyds TSB Scotland plc and Bank of Scotland plc are members of the Financial Services Compensation Scheme and the Financial Ombudsman Service.