In 2015, 21,000 Lloyds Banking Group clients logged in to the Commercial Banking online banking channels over 21 million times and we processed approximately 50 million online payments to a value of c£1.2 trillion.
We caught up with Simon Shorey, Head of Roadmap and Delivery Assurance at Lloyds Banking Group Commercial Digital, about how adopting a client centric design process, engaging and utilising client feedback, is at the heart of everything he does when developing a market leading online channel for our Commercial Banking clients.
What does your role entail?
My role is to create a market leading online platform for our Commercial Banking clients by delivering innovative and effective products and propositions.
What attracted you to a role at Lloyds Banking Group?
I’ve always worked in the Financial Services sector and have spent the last 15 years in the Digital space focusing on building online banking platforms for a Wealth Business, a Private Banking business in Switzerland and a re-platform & ground up re-design of a Retail Online Banking platform. I was leading teams and virtual teams across multiple locations and I gained experience in business analysis, business and technical architecture and programme management, as well as knowledge of banking products and services across multiple sectors.
I knew my experience could help Lloyds improve their commercial digital offering. I was excited by the opportunity to build a team to deliver a wide range of digital solutions for commercial clients, and develop a new market leading banking platform for an area of the bank that was lagging behind the competition and the digital offerings of it’s Retail customers.
How is the work you’re doing making a difference?
It is important to me that the work I do is adding value to the business, our clients and the communities we operate in. In my role I can directly influence the digital offering for our clients, ensuring the propositions we develop help their businesses to grow. Being able to deliver high quality, innovative propositions for our clients is what gives me a buzz and makes me get out of bed in the mornings.
In what ways are Lloyds pushing the boundaries in digital technology and banking?
An essential part of developing new propositions is making sure that we put clients at the heart of everything we do.
At Lloyds we engage clients in user testing throughout the development process, seeking their feedback and iterating the design based upon it. It is essential that we deliver what our clients want, not what we may think they want and this is the only way to truly succeed at this.
Our aim is to make everything we offer to our clients easy to use and to give them control both technically and financially, whilst maintaining the security levels a Commercial client needs.
For example, I initiated a UI/UX review of the platform to ensure that we have a set of guiding principles for all future developments. For the UX work we engaged and worked with over 60clients from SMEs to Global Corporates over a 6 month period, using feedback and testing to iterate designs and concepts to ensure that we met the needs of our varied Commercial client’s We have adopted this methodology across our usual processes to ensure that we constantly review and improve the new online banking platform to ensure that we meet the changing needs of our clients.
What are your top three tips for people working in, or thinking about working in, banking or FinTech?
In no particular order:
- Don’t dismiss banks as a great place to work in Fintech, many are now embracing change and leading the charge in financial innovation
- Don’t let process grind you down, we work in a heavily regulated environment but it is still possible to move at pace and make a difference
- Keep a sense of humour and an open mind
Who inspires you?
Elon Musk, for the sheer scale and innovative quality of the changes he’s making. It’s genuine ‘moonshot’ stuff, as the people in Google would say. His work pioneering alternate energy sources, his space program, the hyperloop, not to mention Tesla cars, has been phenomenonal.
Believe it or not, I’m building a Porsche 718 RSK Spyder replica in my garage at the moment. I can’t guarantee the same level of success as the Tesla, but I’m working just as hard at it
To find out more about transformation at Lloyds Banking Group, see Zak Mian talking about how we’re transforming customer journeys.