Lloyds Banking Group is one of the oldest banks in the UK. It has a large and diversified customer base and provides a wide range of banking and financial services to both personal and corporate customers. It currently funds a quarter of all UK mortgages and is quoted on both The London Stock Exchange and The New York Stock Exchange.
Lloyds Banking Group began life as Taylors & Lloyds in Birmingham, in 1765 and by the time of the merger with TSB in 1995, it had absorbed more than 200 banks. In 2009, Lloyds Banking Group plc. was formed through the acquisition of HBOS by Lloyds TSB. During this acquisition they embarked on a number of major business, IT integration and simplification programmes which included moving to a single mortgage servicing platform.
With millions of customers in the UK alone, it was absolutely critical that nothing should interrupt the bank’s ability to deliver consistent high levels of customer service, regardless of the time of day or location they are in. The words of Nick Williams, Integration Director for Mortgages at Lloyds Banking Group summed up the scale of the challenge, “When you have £350bn of assets, making the decision on which platform you house them on is not only important to the bank, it’s actually incredibly important to the housing market stability in the UK.”
Following an intense period of evaluation of the plethora of solutions and technology stacks supporting the mortgage businesses across the group, the bank decided to adopt UFSS (Unisys Financial Services Solution) running on Unisys ClearPath hardware as the mortgage servicing platform of choice. Although this system had already been used by Lloyds TSB for many years, the decision to bring all group mortgage accounts onto the UFSS platform represented a huge vote of confidence in the solution.