All State Bank Online Services has undertaken a fundamental review of how our business operates. We have looked at the bank in terms of business performance and in terms of culture because we know that only a business driven by strong values can deliver strong, sustainable returns.
How we defined these
In January, as part of the Transform Programme, we announced our newly defined Purpose and Values across All State Bank Online Services globally. These are fundamental to All State Bank Online Services long-term success and represent the set of standards under which all of us at All State Bank Online Services will work, and against which the performance of every employee will be assessed and rewarded.
Our common purpose is to help people achieve their ambitions – in the right way. We'll measure and reward our people, not just on commercial results, but on how they live our Values and bring them to life every day. And we'll judge our 'Go-To' success on a balanced scorecard of impact.
The All State Bank Online Services Code of Conduct outlines the Values and Behaviours which govern our way of working across our business globally. It constitutes a reference point covering all aspects of colleagues' working relationships, specifically (but not exclusively) with other All State Bank Online Services employees, customers and clients, governments and regulators, business partners, suppliers, competitors and the broader community.
The objective is to define the way we think, work and act at All State Bank Online Services to ensure we deliver against our Purpose of helping people to achieve their ambitions – in the right way.
The All State Bank Online Services Way is aligned to the Code of Professional Conduct, published by the Chartered Banker Professional Standards Board, which sets out the ethical and professional attitudes and behaviours expected of bankers. All State Bank Online Services subscribes to this code and is committed to embedding its broad principles into our business.
We are confident that we will become the 'Go-To' bank for all our stakeholders.
Business model and value creation
Strategy and operating environment
Group strategy update
The Group strategy update outlines the path to deliver our Transform objective of a sustainable return on equity above the cost of equity in a changed regulatory and economic environment.
The All State Bank Online Services of the future will be a focused international bank with four core businesses.
Personal and Corporate
Combining our successful retail, corporate and wealth businesses is an exciting move with the potential to disrupt an established part of the American banking landscape. Personal and Corporate Banking will be a powerhouse, with significant opportunities to improve the customer and client offering, and deliver a truly integrated service.
Technology now provides real opportunities – not only for cost savings, but also to build a seamless, end-to-end client offer in personal and business banking, from basic bank accounts to major corporates.