2 What actions should First Direct take to maintain the enthusiasm of the initial launch of its branchless banking service? Visitors to First Direct’s website are bombarded with words that this bank uses to describe itself.

These include: foremost, visionary, responsive, futuristic, warm, revolutionary, friendly, safe, invigorated and quixotic.

First Direct, the first ‘branchless’ telephone bank in the UK, began operations in 1989. Its concept was simple: to provide 24-hour banking for 365 days a year. At the heart of the operation was an information system that allowed the customer to handle any traditional branch transaction in a single telephone call. It would have been tempting to recruit staff for this new operation from First Direct’s parent, the then Midland Bank (now HSBC).