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TheCountOfNowhere

Lloyds Expected To Cut 9,000 Jobs

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But it wont be the people who should be made redundant. It will be those that provide a service to customers!

Oh right you are....if you work for a banks you support the bankers, you profit from the banks and are supported by my taxes. You have a free choice whether to work for such despicable organisations ( IMHO ) or not.

The people you are thinking of who you think should be made redundant shouldn't be made redundant, they should be locked up.

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People use the internet to bank.

----

If I owned a bank, I would create reasons to get people to go there and spend money in there.

So if all your customers went online - that's a problem for the bank because you don't have the interaction to create leads for new business. There is no growth - all future expansion will be done by cutting costs. Not a bright long term future for any business!

I pay my bills online - I don't get to know what new services the bank offers as I would junk all email from any canvassing campaign. Not that banks have got any new ideas?!

They need new services, and new ideas.

Edited by 200p

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Not all of the people will be too upset as they still today get a very good payout, i know of a trainer who recently got made redundant by them and got a payout enough to buy outright 2 btl flats from the payout :(

Edited by papag

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Automation of back office functions is given as one of the reasons- It's amazing to me that this has not happened long ago- after all shuffling numbers around is what computers do best, why have the banks taken so long to get to this point?

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Automation of back office functions is given as one of the reasons- It's amazing to me that this has not happened long ago- after all shuffling numbers around is what computers do best, why have the banks taken so long to get to this point?

It hasn't happened because it's incredibly expensive to make any kind of change to those systems. They're mostly ancient mainframe things that no-one really understands anymore and the slightest c0ck-up puts the bank on the front pages of the newspapers. Consequently they only touch them when they're absolutely forced to. It's not like hacking a few changes into something that won't matter too much if it breaks and will be easy enough to fix anyway.

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Tech is slowly killing the banking industry - in stocks this has already happened;

Part 2 of 5, but this gets to the crux

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People use the internet to bank.

----

If I owned a bank, I would create reasons to get people to go there and spend money in there.

So if all your customers went online - that's a problem for the bank because you don't have the interaction to create leads for new business. There is no growth - all future expansion will be done by cutting costs. Not a bright long term future for any business!

I pay my bills online - I don't get to know what new services the bank offers as I would junk all email from any canvassing campaign. Not that banks have got any new ideas?!

They need new services, and new ideas.

What about assisting customers when they have a banking related problem?

Edited by THE BALD MAN

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Tech is slowly killing the banking industry - in stocks this has already happened;

Part 2 of 5, but this gets to the crux

The race to zero... algorithm machines predict algorithm machines predict algorithm machines. Someone programs them though... gigo, short house prices.

If these graduates with £50,000 debts have fewer opportunities in investment banking ('learning from the crap') in structural decline, pay/bonuses/trading pots down 80%... maybe it can be reflected helping bring down the values of all the investment bank traders who reaped massive sums in the boom years, who paid ever higher prices.

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It hasn't happened because it's incredibly expensive to make any kind of change to those systems. They're mostly ancient mainframe things that no-one really understands anymore and the slightest c0ck-up puts the bank on the front pages of the newspapers. Consequently they only touch them when they're absolutely forced to. It's not like hacking a few changes into something that won't matter too much if it breaks and will be easy enough to fix anyway.

Yes, Nationwide were brave enough to make this change and went to SAP. Only cost them £300m or so.

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Yes, Nationwide were brave enough to make this change and went to SAP. Only cost them £300m or so.

What's that in 'bonuses'?

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Yes, Nationwide were brave enough to make this change and went to SAP. Only cost them £300m or so.

Is there a SAP banking core application?

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