Lloyds Bank offers animated Terms and Conditions
Lloyds Bank has become the first UK bank to revamp their online presentation of their internet banking terms and conditions by communicating key details through a short (2 minute and 15 second) video that makes use of infographics. The new video is available on the Lloyds bank public site, which is highlighted as being important to read before becoming an internet banking customer. The bank says they have updated the T&Cs presentation to simplify the banking experience for customers.
Before the implementation of this feature, the bank carried out a trial to gauge customer responses and gather feedback. The bank has stated that the trials showed that customers had a significantly improved ability to recall the key terms and conditions after watching the infographic video when compared with reading the standard, written terms and conditions.
This development is in line with Lloyds Bank’s wider commitment to improving its digital capabilities, which also promises to deliver 20,000 digital champions at its banks by 2017. The creative positioning of the terms and conditions in this way is an original and accessible feature from Lloyds Bank which could help ensure that customers gain a greater awareness and understanding of their T&Cs.