Lloyds Banking Group: Digital Transformation
2019 | Case No. SM329 | Length 17 pgs.
This case describes the transformation of the UK’s oldest financial services franchise from a product-aligned and brick-and-mortar traditional banking institution to a customer-aligned and digital-first technology organization. The case parallels Lloyds’ business transformation with the growth of its digital-focused Transformation division – which commenced as a small hundred-person task force and ultimately grew to comprise one third of the bank’s 70,000 employees.
Learning ObjectiveLearning objectives include understanding the complex and comprehensive organizational effects of the introduction of digital technology upon large organizations, strategic decision making under uncertainty, pooling resources toward shared goals, development of new internal competencies, dealing with industry disruption, and grappling with the pace of organizational change.
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