Page 217 - Flip Banks TG

SWOT - TSB

TSB’s success is built on an economic model that combines

the tag line of “the world’s local bank” and concept of “think

global act local” applied to its operations in some 80 plus
countries. The company’s operating philosophy includes the

following elements:

Strong Brand Name Proteo4UK initial failure/IT legacy
complexity
Proteo4UK £100+m per year costs
savings Financial position Lack of senior management
openness

Set-up costs low compared to Low interest rates
competitors
Brand reputation
Mobile app – iris scanning
IT failure
technology, face id

Diagram 4: TSB Bank