Lloyds TSB on-line bank to follow AKQA formula

AKQA has been appointed by Lloyds TSB Group to develop the bank’s on-line marketing strategy for Evolvebank.com, which launches later this year.

AKQA won a seven-way strategic pitch and credentials presentation for the work, which will see the creation of what Lloyds TSB hopes will become Europe’s most popular Internet-only bank, with a target of 1.5m customers by 2003. The project is part of a £150m e-commerce budget for the bank, of which £1m will be spent on on-line marketing initiatives.

The London consultancy will be developing the strategy and creative work for affiliate programmes, customer relationship management, media-owner partnerships and on-line advertising initiatives. The site itself is being built in-house.

AKQA chairman and chief executive Ajaz Ahmed says: “Evolvebank.com represents an excellent opportunity for strategic innovation and creativity. It is developing an exciting customer proposition and is focused on building the best global brand in the on-line banking sector.

“We will create strategies and communications that excite and involve consumers,” he adds.

Evolvebank.com Internet marketing manager Alex Wilson believes the partnership between the two groups will produce “market-leading work. We have appointed AKQA as a partner to evolvebank.com on the strength of their strategic insights, customer knowledge, track record and innovative culture.”

AKQA works across the emerging technology industries; its clients include Microsoft, BMW, Nestlé and Orange.