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Andy Street

John Lewis to further break-in the finance sector…

Despite its current managing director, Andy Street, exiting the retailer to concentrate on a political career and profits said to be hit by higher staff wages and tough sector competition, industry reports have suggested that John Lewis is set to launch a new finance brand this month which will include services such as foreign currency, insurance and international payments; in addition to ATMs and new developments to its John Lewis & Waitrose Partnership Card.

In conjunction with the retailers existing financial products, the first enhancements will include a new look for the Partnership Card website, contactless technology and a mobile app to allow customers to check point balance; as well as make transactions ‘on the go’. 

Director of financial services at John Lewis Partnership, Mike Jackson commented in a statement: “We want all of our customers to know that when it comes to money matters, whether that’s travel, insurance or everyday spending, we can support them with the big events in their lives and all the small moments in between.”

He continued: “Considering the breadth of our current portfolio, we felt it was the right time to combine all of our financial services products under a single, umbrella brand as we seek to raise awareness and reach out to many more customers, offering them a greater range of products and greater value.”

It is thought that the full range of financial services will be integrated into one John Lewis Finance customer website within the next 12 months.