It’s time for some industry news, and today we have breaking news that Lloyds banking are currently reviewing their print services, this around 100 million printed items each and every year.
Now of course the contract for this widely known bank includes a lot of areas. These range from Management, Artwork, Direct Mail and Warehousing for marketing Items. This has been held by Xerox for the past five years.
The managing director of Lloyds Banking Group had this to say.
Catherine Kehoe, said: “We have had five successful years with our current marketing print services provider Xerox which has provided an integrated offering.
“As we look forward to the future we need to ensure that our approach delivers best value and quality across all marketing print services.”
But Lloyds have not ruled out renegotiating with Xerox. They have been invited to re-pitch their ideas, but the contract is open to all other companies, and several of these have already been asked to come and pitch to the bank.
Catherine Kehoe also said “More customers have registered online and are banking digitally but the print volume is pretty much the same as it was five years ago as printed marketing hasn’t reduced. The company does expect its print volume to go down in the future but so far we haven’t seen that trend. And it will depend on what the customers want.”
Lloyds are expecting to have either renegotiated with Xerox or found a new company for their marketing print services by December 4th, we will keep you posted as we find out more