Legacy banks such as Lloyds Banking Group have had to contend with a raft of smaller, more agile challenger banks, such as Monzo, Starling and Revolut, which have used digital technologies to win over customers. Not wanting to be left behind, Lloyds has partnered up with Microsoft to accelerate its digital transformation, with the firm set to leverage Microsoft’s Azure cloud to achieve its goals.
Lloyds is set to invest £3 billion in technology, with the company using that technology to provide a modern digital workplace for all of its employees. The new partnership includes the development of Microsoft Managed Desktop, offering productivity tools within Office 365, the robust security capability of Windows 10 and an advanced device solution to support evergreen currency management.
Lloyds Banking Group has worked with Microsoft since 2017 to build, test and evaluate the scale, security and agility requirements for Microsoft Managed Desktop. The rollout across the entire business makes it the world’s largest financial services firm to deploy this technology. This is supplemented by Lloyds’ use of Microsoft Azure to increase business agility, scalability on demand and provide a more enhanced customer offering.
“We are delighted to support this new agreement with Microsoft, which will not only deliver great support for our colleagues, ensuring that we continue to transform our ways of working, but also help improve operational resilience across the Group,” said Jen Tippin, group people and productivity director at Lloyds Banking Group.
John Chambers, group chief information officer at Lloyds Banking Group, added: “As part of our digital transformation we’re creating a modern digital workplace and I am really excited about the impact of this new technology. A core principle of Microsoft Managed Desktop is the idea that an evolved approach can give colleagues fantastic experiences on workplace devices that stay current and secure with Microsoft 365. We are confident that prioritising a modern and enjoyable workspace will significantly improve our colleague experience.”
“Becoming a truly digital organisation requires both technical and cultural transformation, which is why we believe close collaboration with our customers to understand their unique challenges and determine the best possible solution is critical,” concluded Cindy Rose, CEO of Microsoft UK.
“Using the Microsoft cloud, employees can have the confidence that they have the best tools at hand to deliver an exceptional customer experience and we look forward to continuing our work to ensure Lloyds Banking Group maintains its position as a truly world-class digital bank.”