Jan 22, 2019 | All Members
Lloyds Banking Group (LBG) plans to bypass its current IT system and replace it with Thought Machine’s cloud based core-banking platform called “Vault”. LBG recently invested £11 million for a 10% stake in Thought Machine, a Fintech set up a few years ago by a group...
Jan 22, 2019 | All Members
One of the main reasons for replacing the Group’s current core-banking platform with a digitally native platform like Thought Machine is to counteract the effects of open banking and the rise of fintech and Third Party Providers (TPPs). The rules require UK banks to...
Jan 11, 2019 | All Members
The 2019 pay pot is 2.6% compared to the current rate of inflation of 3.2%. On the Group’s own figures that means the vast majority of staff will yet again get pay increases less than the cost of living. That at a time when the Group posted a statutory profit after...
Jan 9, 2019 | All Members
Lloyds Banking Group recently reported its April 2018 gender pay gap results in line with the Equality Act 2010 (Gender Pay Gap Information Regulations 2017). The Groups mean gender pay gap reduced narrowly from 32.8% (2017) to 31.5% (2018). In other words, women in...
Dec 19, 2018 | All Members
Given the precarious nature of the financial advice business and the growth model proposed by Lloyds Banking Group for the new Joint Venture, the legal status of the Lloyds Bank enhanced severance terms and job security policy is extremely important. The issue is a...
Dec 18, 2018 | All Members
Following the Union’s campaign, the Trustee of the Lloyds Bank Offshore Pension Scheme and the Bank have said that they will be treating men and women in exactly the same way when dealing with the State Pension Deduction. Members will recall that in a previous...
