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An article relating to this blog post on Finextra:

Tesco Bank creates 1000 customer service jobs

The banking arm of UK retailer Tesco is creating 1000 jobs in Newcastle with the opening of a new customer services centre.

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Tesco showing the way

Tesco are moving into Banking and this can only be great news for the Banking sector and customers. The word trust has been lost with existing banks and by introducing a trusted brand like Tesco into the market the sector can start rebuilding.

It will not be plain sailing for Tesco but they surely go with the good will of everybody. The shake up that Tesco will give the banks should sober them up and get their in a more customer service frame of mind. Long over due

I expect Tesco to not stay in their current focus and quickly move into other areas of retail finance. They will surely learn from the bussiness and technology deficiences of retail banks and build a top quality service structure that utilises the best people with the best systems.

How will retail banks react to the new challenge? Lets hope its positive and they take up the challenge. 

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Comments: (6)

A Finextra member
A Finextra member 28 October, 2009, 13:02Be the first to give this comment the thumbs up 0 likes

Every little helps...

I wish them luck with their venture. I only hope that their banking customer service is better than the customer service I have received in their shops - flashback to standing in the middle of an aisle asking for help and two members of staff shouting at each other about who should help me/show me where the product is. Based on that experience I very much doubt that it will be plain sailing...!

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Gary Wright
Gary Wright 28 October, 2009, 13:38Be the first to give this comment the thumbs up 0 likes

Yes Lucy, i am assuming the Tesco banks will not have the same layout as their stores. Anyway i have also spent time in the line at banks only to find the person behind the counter does not have the knowladge to deal with me and they call someone over. A liitle similar

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Paul Penrose
Paul Penrose - Finextra - London 28 October, 2009, 14:48Be the first to give this comment the thumbs up 0 likes

I've said it once before and I'll say it again: Tesco versus the banks is like Darth Vader taking on the Daleks.

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Gary Wright
Gary Wright 28 October, 2009, 14:59Be the first to give this comment the thumbs up 0 likes

I think Darth Vader finally showed he had some good within him and helped save the day.

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A Finextra member
A Finextra member 28 October, 2009, 22:15Be the first to give this comment the thumbs up 0 likes

I think people are being slightly hopeful, after all the people running the business have left the mess of HBOS and RBS trailing in their wake. But as they say "Only time will tell".........good luck to them.........we need them to be a sucess.

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Gary Wright
Gary Wright 29 October, 2009, 07:57Be the first to give this comment the thumbs up 0 likes

Agreed Lee, we need Tesco and others to be a success in FS and regenerate the sector. My best wishes are certainly with them

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Gary Wright

Gary Wright

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