Barclays is the largest Bank in the United Kingdom as per total assets. The bank is also the second largest bank as per market capitalization. This is supposed to be one of the most important banks all over the United Kingdom that has a brand value of nearly $10 billion. 

The digital period is growing rapidly. So, it is very important to make a strong digital presence. Barclays has put a lot of effort into creating its digital presence. But there are still a lot of places which need to be improved. The bank can resolve all these drawbacks by using advanced digital marketing skills. Now every business needs to know about digital marketing. Most people are eager to know how Barclays has become successful in the industry. In this article, we have done a detailed SWOT analysis of Barclays. But first of all, we have to know a few details about Barclays and the services it provides. So, let’s dive in without wasting any more time. 

A Short Overview Of Barclays

Barclays is a British multinational universal bank. The bank was set up in 1690. The bank has a good reputation all over the world. The headquarters of Barclays is located in London. Barclays is popular for firsts to credit, machines, investing from more than 300 years of history whether it is the investment for the first industrial steam railway of the world in 1819, to launching the first automated teller machine in the world in 1967. The bank has a history of more than 325 years as it has been serving the people since 1690. Barclays has good skills in banking and it operates in over 40 countries and uses approximately 83,500 people. Barclays is a member of the FTSE 100 Index which has the main listing on the London Stock Exchange and a secondary listing on the New York Stock Exchange. It is honored as a systemically substantial bank by the Financial Stability Board. Barclays has managed to generate nearly $30 billion in revenue as of 2020. The net income of Barclays in 2020 was over $4 billion. As of 2020, Barclays has a market capitalization of over $44 billion. 

What Type of Services Are Offered by Barclays?

Barclays is supposed to be one of the largest forms in the United Kingdom and all over the globe. The company offers its consumers a wide range of services to make them satisfied. Barclays provides the following services to consumers

• Insurance
• Corporate banking
• Mortgages
• Investment banking
• Wealth and investment management

Who Are the Close Opponents of Barclays?

Barclays offers its services all across the universe. That is why it has to face a huge amount of competition. A few top opponents of Barclays are as follows: 

• Lloyds Bank
• National Westminster Bank
• Santander UK
• The Co-operative Bank
• Commerzbank
• Deutsche Bank 

SWOT Analysis of Barclays

With the help of a SWOT analysis, the leaders of an organization can make an important arrangement plan as they get to know the internal as well as the external component factors of the company. 

The primary aim of SWOT analysis is to specify the techniques that may be utilized for building on and protecting the strengths of Barclays and eliminating the weaknesses of the company. Strengths and weaknesses both are the internal factors of the corporation. The SWOT analysis also helps to control the external data of the company like the opportunities and counter market threats. So, here is a comprehensive SWOT analysis of Barclays: 

What are the  Strengths of Barclays? 

Strengths are the optimistic factors of Barclays or any other company which help the company to win over the other opponents. A few strengths of Barclays are given below: 

• Good Returns on Capital Expenditure – Barclays is popular for its enactment of unique schemes and also for promising returns on capital expenditure by creating new income.

• Customer-friendly Mortgage Plans – The company provides 80% mortgages to its consumers which last for 2, 3, 5, or 20 years with an attractive interest rate in comparison with other banks. 

• ATMs and Branches –

There are more than 4700 department branches of the bank and 1600 offices in the United Kingdom. The company also works in more than 55 countries. The company is a part of the multinational ATM partnership that enables its consumers to take out from banks for which the consumers do not need to pay any additional charges as a premium for the ATMs of other banks. 

•  High Liquidity – This is a completely capitalized bank with high liquidity and cash flow, which enables resources to step up into unique and new schemes all over the world. 

• Employee Orientation – The substantial and useful system of the company is to learn and train their workers through skilled trainers. Barclays pays a lot of money on the employment and the growth of its workers, pitching in and searching for a crew that is highly qualified and driven to fetch incredible development.

What are the Weaknesses of Barclays?

Weaknesses are the areas that need to be improved by Barclays. The growth of the company depends on these factors. So, the company should be careful about such factors and handle them as early as possible. A few weaknesses of Barclays are as follows: 

• Demand Forecasting – One of the most important reasons why the stock of the day is in high contrast with its opponents is that Barclays is not so good at requests, expecting along these lines to wind up keeping higher stock in-house as well as in the channel. 

• Controversies – Controversies like financing the government in Zimbabwe and breaking international money laundering laws influence the brand image of the company. 
• Lawsuits prosecutions – Various cases like involvement with South Africa under politically authorized racial segregation, allegations of tax evasion, and many more have affected the brand image of the company. 
• Loyalty Rates – The users have given very low ratings to the company. This is indeed a negative aspect for the company. The company should change it as early as possible. 
• Affecting Long-Term Growth – Days stock inventory is in high distinction with the opponents which makes the company raise more cash flow to set resources into the channel. The long-term development of Barclays can be affected by this. 

What are the Opportunities for Barclays? 

Opportunities are the factors that enable Barclays to develop in the industry. It must be capable enough to grab such chances and make them their powers. A few opportunities for Barclays are as follows: 

• Web-based / online banking – 

Penetrating web-based banking is an enormous undiscovered area. New client’s from one channel– over a couple of years, the company has invested a huge amount of money into the internet-based stage. This incident has unlocked a new deals channel for Barclays. In a few years, the organization may use this opportunity by understanding its consumer better and attend to their needs by using huge data investigation. 

• Arising Youth – There is a rumor in the youth now for investment and they are looking for various types of investment options. Barclays may attain urban youth who are looking for investment options. 

• Developing into more cities & countries – At present Barclays works in over 50 countries and uses 156,000 agents. It may fill further in large numbers of its present business sectors. Expanding business sectors provide the bank with openings for more growth. That is why working in new geological locations is similarly worth funding. 

• Expansion In Monetary Information Among Youth – The levels of training are enhancing. There will be a rise in the number of young people who are looking for venture options. As of now, Barclays has a strong brand review among youth on account of being the English Premier League support. It must use this review to bring the youth right toward the outset of their venture expedition and anticipate holding them as steadfast customers throughout a substantial span. 

What Are The Threats To Barclays? 

Dangers are supposed to be legal problems. For instance, The Serious Fraud Office (SFO) in the UK has charged Barclays Bank PLC with ‘unlawful monetary help’ identified with billions of pounds fetched from Qatar up in 2008. Barclays carries an economic pass that allows it to operate in different countries. In any case, if the bank was seen as blameworthy, it could forfeit that crucial ticket. A few threats of Barclays are given below: 

• Environment Change – In 2017 Barclays encountered battles with tree huggers because of its commitment to Third Energy which planned to deduct natural gas utilizing hydraulic pressure-driven braking (deep earth drilling) at Kirby Misperton in Yorkshire. Then in 2020, it sold off its Third Energy to Alpha Energy. Barclays put $85 billion into petrol fuel extraction and $24 billion being expanded.
• Us Lawsuit Claims To Allege Dark Pool Fraud – In June 2014 the US province of New York reported a lawsuit against the bank asserting it defrauded and misled economic supporters with off-base showcasing material concerning its unregulated exchanging framework known as a dim pool. The bank’s proposals were lowered by 5% on news of the lawsuit.

• Gold Value Manipulation And Control – In May 2014 the Financial Conduct Authority fined the bank £26 million over frameworks and management dissatisfactions, and irreconcilable crises with the bank and its customers in association with the gold fixing during the period 2004–2013, and for management of the gold price on 28 June 2012.

• Allegations Of Money Laundering– In March 2009, Barclays spent US$298 million to resolve the allegations of violating and disregarding worldwide illicit tax avoidance regulations.

• Increased Competition – A profoundly competitive and forceful atmosphere from different other banks can influence the market shares of Barclays Bank.

What are the Reasons Behind the Success of Barclays? 

The primary reasons behind the success of Barclays are that Barclays has managed to gain a reputation of being a reliable institution to bank and invest with. The company has proved it by showing its skill in banking in its more than three hundred years of history. The reputation of the company developed in more than 50 nations and became a genuine universal bank offering loans, investments, and saving the money of more than 42 million consumers and clients all over the globe. 

Another reason behind the success of Barclays is that it abides by a simple strategy; understands the requirements of consumers and clients and fulfils them so that they can meet their goals. Barclays has become so successful because it has been able to target and detect the upcoming appearing markets like India, parts of Asia, and Africa. The command has expanded its retail network and cash machine availability. Barclays is a truly multinational company from a fundamental bank account to funding Governmental projects. But  Barclays always concentrates on meeting the necessities of the individual consumer.

Social Media Marketing Of Barclays 

Barclays is one of the most emerging banks in all over the world. The company is striving a lot for social media marketing. The company is using various platforms like Twitter, Facebook, and Linkedin to get in touch with consumers and give them the best possible banking solutions. The company uses the best content for social media marketing that offers important information on multiple financial topics. They contain budgeting tips as well as information about the latest financial products and services. This helps the customers to make better financial decisions. This also helps Barclays to establish itself as a reliable source of information.The company also uses the best content that is timely and urgent. The company alerts people about the updates on crucial economic matters like changes in interest rates, or new rules. In this way, the consumers may stay informed and on top of the best financial decisions. 

Barclays also stands out from the crowd by providing unusual and customized solutions with the help of its social media channels offering a more detailed experience for consumers. The company also utilizes social media to grab the attention of the customers towards their different products and services like credit cards and mortgages. 

Moreover, Barclays has an ultra-specific social media presence because they utilize targeted ads and customized content to get in touch with consumers and give tailor-made solutions. The company also uses social media to give back to society by partnering with non-profit institutions and hosting generous occasions, authorizing consumers to get involved and make a distinction. 

Conclusion

After doing a SWOT analysis of Barclays we have come to know that Barckays is supposed to be one of the largest banks in the United Kingdom. The company offers good returns on capital expenditure and the company also has consumer-friendly mortgage plans. The company has a huge amount of scope in the youth as knowledge of economic investment is developing. Though it has so many advantages, it has a few shortcomings in the market. 

The brand image of the company gets affected because of its connection in debates and reducing loyalty rates. The company also gets highly affected due to the high amount of competition in the market. The company can only win over these factors by enforcing proper policies like developing its online reputation and making a strong brand reputation. 

Barclays has a substantial social media presence that stands out for its efficacy, punctuality, individualism, and explicitness in attaching with consumers and delivering tailored solutions. It founds the bank as a  reliable source of information and a bank that cares about its customers’ necessities. If you are finding it difficult to write a case study on this topic you may feel free to get in touch with My Assignment Writing Help without any hesitation. 

FREQUENTLY ASKED QUESTIONS

1. What Are The 4 Pillars Of Barclays?

It will always be leveled in the deep-rooted Values of the organization – Respect, Integrity, Service, Excellence, and Stewardship. The Barclays Code of Conduct – ‘The Barclays Way’ – outlines the Values and Behaviours which control the way of working across businesses all over the world. 

2. What Is Barclays Well-Known For?

From funding the world’s first industrial steam railway in 1819 to unveiling the world’s first automated teller machine in 1967, Barclays has had a series of firsts to its credit in its more than 300 years of history.

3. What Challenges Are Barclays Facing?

Five main dangers might challenge Barclays:  inflation, growth, central banks, and interest rates, geopolitics, and the energy transition. 

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