First Direct SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1724

SWOT Analysis of First Direct with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

First Direct

Parent Company



Banking and Financial Services


Banking and Insurance

Tagline/ Slogan

The unexpected bank


Telephone and internet based retail banking



British savers and home owners.

Target Group

People with needs for banking products, loans, credit cards and insurance.


An internet based bank providing a variety of services with award winning customer service.

SWOT Analysis


1. Award winning bank – has won numerous awards for customer service, current account services, call center services etc.

2. Offers a wide range of products – banking facilities, mortgages, loans, credit cards, insurance etc.

3. Very strong customer base of 1.2 million customers.
4. Supported by a large parent company with global presence.

5. Introduced apps for smart phones – both Iphone and android platform. This makes banking much easier for its customers.

6. “Internet banking plus” – an award winning service which brings together first direct and non first direct bank accounts in one place and helps view all of customers money at one go.

7. Text based alerts and services like checking balance to enhance customer convenience.


1. No face to face interaction with customers. This can limit understanding of customer concerns. It gives an impersonal feel to the process of banking
2. Only 2 call centers – one at Leeds and other at Hamilton.

3. Ended the “Free” banking service. Introduced fees on day to day current account management services.

4. Personal loan is limited to First Direct customers and account holders only.


1. Growth in cell phone and internet users is a great opportunity for first direct to leverage its strong internet based banking system.
2. Expansion into traditional banking sphere can help tap into high net worth individuals.
3. Can offer financial advisory services for high net worth individuals.


1. Economic slowdown in the US and UK economy.
2. Does not offer services like safe deposits. Also does not offer personalized services, so can miss out on high net worth clients.



1. Barclays
2. Standard Chartered
3.Lloyds Banking group


The table above concludes the First Direct SWOT analysis along with its marketing and brand parameters.


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