19 August 2017
Gary Wright

Gary Wright

Gary Wright - BISS Research

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A post relating to this item from Finextra:

Tesco Bank creates 1000 customer service jobs

28 October 2009  |  9589 views  |  0
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The banking arm of UK retailer Tesco is creating 1000 jobs in Newcastle with the opening of a new customer services centre.

Tesco showing the way

28 October 2009  |  3553 views  |  3

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. 

Comments: (6)

A Finextra member
A Finextra member | 28 October, 2009, 13:02

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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A Finextra member
A Finextra member | 28 October, 2009, 13:38

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, 14:48

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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A Finextra member
A Finextra member | 28 October, 2009, 14:59

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

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Lee Blair
Lee Blair - IPEC eXcellence Ltd - Edinburgh | 28 October, 2009, 22:15

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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A Finextra member
A Finextra member | 29 October, 2009, 07:57

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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CEO of B.I.S.S. Research, founder of the BISS Independent Accreditation for all systems and services provided to financial services companies internationally. Guest Lecturer at Reading University and...

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