Superbrands UK Annual Vol.20 TSB Brand History 1810 The Trustee Savings Bank is established by Reverend Henry Duncan of Ruthwell. 1986 TSB Group plc is founded. 1995 TSB is bought by Lloyds Bank. TSB disappears as a separate brand, living only as part of the name LloydsTSB. In 1810 the Reverend Henry Duncan did something revolutionary. 2013 TSB separates from Lloyds Banking He built the Trustees Savings Bank, whose sole purpose was to help hard-working Group and becomes an independent entity, tasked by the EU with increasing local people thrive. Six years ago, TSB, Britain’s challenger bank, was re-born based competition in the British banking sector after the banking crisis. on his values, to make banking better for all UK consumers 2014 TSB Bank plc goes public with successful IPO. 2015 TSB is bought by Sabadell, Market DID YOU KNOW? But celebrating isn’t enough. Through the Spain’s fi fth largest banking group. In 2013 the big fi ve banks controlled more than TSB Local Charity Partnership programme, 85% of all UK bank accounts. Following the every branch and site supports a local, The Classic Plus 2016 TSB is recognised as Britain’s banking crisis, TSB was created to bring more independently registered community group most recommended high competition to UK banking and actively make current account appeared with fundraising and volunteering. TSB Partners street bank. banking better for all consumers. and customers raise more than £500,000 for in independently produced 450 causes every year. Furthermore, on Local TSB delivers a different kind of retail banking that Best Buy Charities Day 2018 TSB celebrated the great It’s notoriously diffi cult to get customers it calls ‘Local Banking’. The bank only champions tables every work of these organisations and announced to switch current accounts – fewer than 2% did local people and local businesses, helping them week during 2018 the fi rst Local Community Fund winners – in 2018. But by not switching, millions of people and the communities they live in to thrive. most of whom operate in a sector that often across Britain are missing out on having a banking It refuses to engage in any risky practises like struggles to raise funds. relationship, which could make them better off. overseas speculation and investment banking. This is also why the TSB Business current In this case, millions of people are missing out In short it’s High Street, not Wall Street. account offers free business banking for over This commitment to its purpose has helped by having a current account that doesn’t a year and comes with a suite of services which TSB build a strong brand. Those aware of the pay them any interest; whereas TSB’s Plus Product can help its customers start, run or grow their partnership with Local Pride were not only more account pays interest to all its customers Fundamentally, TSB believes that when people help businesses better. likely to consider TSB as a brand, but also more with no monthly fee. people we all thrive together. It’s this belief which likely to consider TSB products, such as its means it actively helps people make the most Achievements current account, too. To jolt people out of this costly inertia and of their hard-earned money, stopping them missing TSB believes purpose-driven brands build strong help them make the most of their hard-earned out on things that could make them better off. businesses. Therefore it has continued to celebrate At the same time, TSB prides itself on creating money, the campaign built on creating FOMO, people who help other people in their communities a culture that encourages and builds diversity the fear of missing out. This culturally familiar That is why TSB designs its products and services through its #TSBLocalPride programme. At its and inclusion. For example, TSB was one of the behavioural economics tactic has been proven the way it does. Its Classic Plus account pays interest heart is a long-term partnership with Pride of Britain fi rst companies to proactively publish and explain time and time again to get even the most whilst not charging a fee. Likewise, its Fix and Flex and Pride of Sport. Pride of Britain is the nation’s its gender pay gap and had a strong presence reluctant people to spring into action. personal loans and mortgages enable people biggest annual awards ceremony of its kind, at LGBT Pride events across the country. to borrow well by allowing them to take celebrating ordinary people across the UK who Brand Values repayment holidays should life change. have gone to extraordinary lengths to help others. Recent Developments The bank is driven by a set of values – TSB has helped personal banking customers pioneering, straightforward, transparent, be better off since launch. In 2018 it also turned collaborative and responsible – that are very its attention to the backbone of the economy different from those which banking has come – small businesses. This group often feels to be associated with. They continue to inform undervalued, underserved and overcharged. everything TSB does, just as they have done from the very start. TSB Business Banking launched to change this. It only focuses on the smaller, independent But, even though the brand has achieved businesses of Britain. As well as developing a great deal, TSB’s work is far from done. products to help them be better off, TSB has TSB doesn’t think customers ought Furthermore, TSB has used some of its marketing Millions of people across Britain are still also partnered with expert service providers to choose between digital services and budget to actively encourage people to support missing out on banking which can truly We’re here to help the smaller, to ensure these smaller businesses receive branches. It therefore offers business banking their local businesses during their key trading make them better off. That is why TSB the support they need to start, run and grow customers the kind of service they would periods, such as Christmas. is going to continue to champion customers independent businesses of Britain their business. expect whether it is on mobile or in person; to fulfi l its mission of making banking better from a TSB Partner in branch who actively Promotion for everybody. start, run and grow. Unlike many of the tech start-ups and the helps, rather than just selling things; As a purpose-driven business, TSB seeks to use Local banking big banks, TSB is right where people most or an expert Relationship Manager who its promotions to make banking better for everyone for businesses TSB Bank plc. Registered Office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland No. SC95237. need it, at the heart of local communities will get to know customsers and their and its latest campaign focuses on the core right across Britain. businesses over the long term. banking product, the current account. superbrands.uk.com tsb.co.uk.