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New service is first since IPO

Clydesdale unveils ‘B’ for digital banking generation

BbankClydesdale and Yorkshire Banks will next week launch B, a digital banking service which will focus on the mobile generation.

Its launch follows extensive research among 10,000 potential users over two years which revealed customers wanted a banking service that was simple, intuitive and designed to make managing money as easy as possible to carry out on the move.

Research by the banking association, the BBA, shows that digital mobile is now the most common method for people to carry out banking transactions.

However, as part of the B design process, the feedback was that existing banking apps failed to live up to the service and experience offered by the kind of lifestyle apps people download and use every day.

The launch of B on Tuesday represents the first major initiative for CYBG since the company’s IPO in February and the importance the company is placing on innovation its growth strategy.

It forms part of a wider omni-channel strategy across the business using digitisation “to deliver better, sustainable services for customers”.

David Duffy, chief executive of CYBG, said: “Customers have gone digital in every aspect of life, and want banking to go the same way.

“It’s not about having ‘cool’ technology start-ups, it’s about how digital is applied to enhance the customer proposition.”

He aims to expand the app for small businesses in the coming months, with a pilot phase under way.

The new technology will enable customers to open accounts in about 10 minutes and paves the way for instant lending in the future.

But it also poses challenges to the branch network. Clydesdale and Yorkshire announced earlier this month that it would close 26 branches across the country as a response to changing banking habits.

Helen Page, propositions and marketing director, said: “B represents a challenge to other banks and, most importantly it’s ready to go now, based around an app that has been extensively tested and trialled – we know it’s what people want.

“It was clear from our research that people want something a bit different, that is more intuitive and that helps them run their lives. Over 10,000 people told us what they wanted from a bank; to take the hassle out of money and make life a bit easier. We listened, learned and took their advice throughout the process to create B – a product designed by customers for customers.”

B will launch across both the android and iOS platforms, with functions designed to give customers control over their money.

It will be supported by a fully integrated multi-media advertising campaign that will encompass print, social and broadcast media. A new B television ad will appear on screens this summer.

As I See it: Daily Business Comment on the launch of B

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