Lloyds Banking Group and the Cambridge Judge Business School have undertaken a “unique collaboration” to look at digital opportunities in the future of banking.
As part of their MPhil in Management programme, 15 students from the university participated in a six-week programme set by LBG Innovation Labs to deepen the understanding of three challenge areas: identity, social and gamification.
With those areas in mind, students were involved in evaluating future technical trends, social and economic conditions, and the role of banking and financial services, to understand how these factors would influence the way Lloyds should engage with its customers.
Fabrizia Scivoli, an MPhil in Management student who participated in the project, explained: “We analysed the macro environment in order to assess potential competitors and threats, and to understand the likely response of customers. We also analysed Lloyds itself to better understand their strategy and how the concept we were asked to evaluate could fit in their strategy.”
Marc Lien, the innovation and digital development director at Lloyds Banking Group, said: “We were delighted to collaborate with Cambridge Judge Business School to work with students and explore the future of banking. At Lloyds Banking Group we are always seeking new opportunities for fresh thinking to continuously improve our services for customers.”
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