Productivity in banking: An Interview with Lloyds Banking Group’s Jennifer Tippin

In this video interview, Jennifer Tippin of Lloyds Banking Group talks to McKinsey about how the bank uses a “productivity-driven mindset” to address the challenges in today’s environment. Taking us through the bank’s productivity journey from its beginnings in the post-financial-crisis environment, through the rise of digital, and now to their efforts to build the “bank of the future,” Tippin touches on a number of crucial levers, including reducing organizational layers, revisiting third-party relationships for maximum efficiency, and the systematic rethinking of end-to-end customer journeys. Underlying the bank’s approach is group-wide effort to continually think about how they can do better tomorrow.