Claire Calmejane, director of innovation at Lloyds Banking Group, told an avid Inspirefest 2016 audience how her company embraces fintech disruption, simply because the customers demand it.

Lloyds was not caught off guard by fintech disruption, when start-ups began popping up in various spaces and slicing off different parts of the financial services pie.

According to Claire Calmejane, Lloyds was actually ahead of the game.

“Banks always want to meet customers’ needs; we’re not just watching and thinking about it,” she said, noting a programme called transformation, a £1bn investment that is Lloyds’s way of adapting to its changing customers.

“For example, now we don’t say, ‘I want to get a mortgage’, ‘I want to access capital’; we say, ‘I want to buy a home’, ‘I want to set up a business’.”

Words by Gordon Hunt