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NEWS


“We do not advocate rip and replace,” continued Paris. The dichotomy of running a bank and being innovative needs to be removed, and things like Misys’ newly- launched FusionFabric could be the answer to that. The


LBG seeks FinTech lead


Head of FinTech Discovery as part of its three year, £1 billion digital transformation programme. “The Innovation and Digital Development team play a pivotal role in building the future digital competitive advantage for LBG – to transform its capability to be the best bank for customers, to drive new and protect existing revenue and to drive a low cost operating model,” states the job spec. “We are looking for a Head of FinTech to join the LBG Innovation Labs. In this key role, you will focus on initiatives to drive opportunities for innovation and FinTech in Lloyds Banking Group.”


L


The successful candidate, earning between £81,900 – £109,200, will work within a team on increasing awareness of innovation and FinTech within the organisation and externally in the London community. They will be responsible for strategically analysing new business models, emerging technical trends, and will be supporting on product-focused, process-driven and service-led innovations. From this analysis, they will spot patterns of potential partnerships and investments and will work with other divisions to develop strategies that will either accelerate existing organisational strategies, or


loyds Banking Group is on the hunt for a identity new strategic opportunities.


The job spec adds: “You will have a solid understanding of the London FinTech sector with relationships to incubators, accelerators, academia, service suppliers, professional services firms, startups, venture capitalists, regulators and government institutions within the industry.”


This year has seen the FI step up its efforts to reduce its physical presence, with 3,000 jobs to be lost and 200 branch closures by the end of 2017, despite a recent 101% increase in pre-tax profits. This is on top of 9,000 jobs axed and 200 branches closed since 2014. It has said that the move is a result of customers increasingly moving online. Britain’s largest union, Unite, has called on the FI to give a no compulsory redundancy guarantee amid the cuts. “This grim news will send a shiver down the spine of Lloyds employees, who have worked hard to make the bank a success and deliver excellent customer service against a backdrop of continual uncertainty,” says National Officer at the union, Rob MacGregor.


Scott Thompson


company posted a good year of growth, especially in Europe, and will no doubt be hoping that its new digitisation focus will help see it through to another.


Alex Hamilton


www.ibsintelligence.com © IBS Intelligence 2016


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