Home » Connection Economy » Future Trends » General » Recession solutions » Currently Reading:

Tesco Personal Finance has lift off!

October 8, 2008 Dean van Leeuwen Connection Economy, Future Trends, General, Recession solutions No Comments

Tesco Personal Finance (TPF) was launched 11 years ago as a joint venture with RBS. They have been slowly but surely making in-roads into the financial sector, and this month Tesco plans to take full ownership of the business. This is interesting timing given the current financial crisis and even more interestingly, Tesco has big plans for TPF. Now with over 5.6 million customers TPF has it’s eye on the mortgage market. Bouyed by its half year profit results Tesco has the resources and the appetite to grow its banking operation, but perhaps it has even a greater asset in its arsenal, strong consumer goodwill and support.

While banks have focused their attention narrowly on bottom line profit and large city bonuses, Tesco has been focusing on connecting with its staff and customers and massive profits have followed. In 2007 Tesco embarked on a training course to help staff connect with people from different generations; and they are well known for championing the consumer. This is not just lip service but something that Tesco staff from junior to senior management live and breathe

So as the market forces and consumer anger forces banks to rethink their attitudes and behaviour, and the market forces reshape banking as we know it, keep a watchful eye on Tesco Personal Finance they could well be using this crisis as the catalyst and launching pad they need to redefine the future of banking into business that truly connects with customers values.

Related posts:

  1. Tesco, a talented company I’m always on the lookout for talented companies and I...
  2. M-Pesa, Vodacom, Nedbank and Rob Shuter Earlier this year Rob Shuter (head of Nedbank Retail) resigned...
  3. The Next Wave or just a ripple? Earier this month I posted a blog titled Is the...
  4. Is the economy in for a V, a U or a W? HSBC Chief thinks it’s a W There is a lot of talk about recovery from the...
  5. His finest hour One year ago, Gordon Brown was being hailed by many...

Related posts brought to you by Yet Another Related Posts Plugin.

Comment on this Article:







Subscribe to this blog

Subscribe

Category Drop-Down

Posts about Future Trends

The future of money

March 12, 2010 Dean van Leeuwen

The future of money

For years banks and credit card companies have held a strangle hold over the movement of money and charged exorbitant rates for doing so. Now this is changing and fast.
Michale Ivey the founder of Twitpay has devised a system, using code that PayPal made available to him, that allows people to make payments [...]

Twitter 10 Billion – quality not quantity

March 5, 2010 Barrie Bramley

Twitter 10 Billion – quality not quantity

In the last few hours the 10 billionth tweet was tweeted on Twitter. As one would imagine there was all kinds of hype and excitement, as Tweeps with the necesary skills attempted to predict the time it would happen, and I imagine even be ‘the one’?
My last tweet was 9999989724. Wild. Will be at 10 [...]

When social media grows up… it will change everything

March 4, 2010 Graeme Codrington

When social media grows up… it will change everything

Download a copy of this article in PDF format – right click here. The contents of this article can be presented as a keynote or a workshop for your team. Contact our UK or South African offices to find out how.
Twitter recently hosted it’s billionth Tweet and Facebook had over 500 million users [...]

Gen Y are not a pushover

March 1, 2010 Graeme Codrington

Gen Y are not a pushover

Miranda Devine is a Sydney Morning Herald columnist, and recently wrote an excellent piece on Australia’s Gen Y (young people now in the teens and early 20s). She had just witnessed a group of 400 of them grilling Kevin Rudd, the Aussie PM – and they had given him a rough time.
It’s well worth [...]

Recent Comments

Archives

Tweet Blender

Refresh
codrington: RT @trendwatching: Online platform for long-distance bedtime stories http://bit.ly/96LR0g
3 hours ago
codrington: RT @HRstalker: Reuters Social Media Policy Gets It Half Right, Half Wrong | Techdirt http://ow.ly/1j7SS via @nicoleyeary
3 hours ago
barriebramley: @gabyrosario I see you got your Tweet back : )
14 hours ago
barriebramley: @walterpike for FourSquare you gotta log onto the web site to update an address. Don't know about other?
1 day ago
barriebramley: Honey, Don’t Bother Mommy. I’m Too Busy With My Blog and Building My Brand - http://nyti.ms/9L2NAq (via @MelanieMinnaar)
1 day ago
barriebramley: Managing today's younger people - http://ow.ly/1iUYH
1 day ago
barriebramley: Radical Parenting http://bit.ly/9X2K33
1 day ago
DeanvanLeeuwen: The World's Billionaires - Forbes.com http://ow.ly/1icHF
2 days ago
view more »