Alliance & Leicester, the building society turned bank, has announced a far-reaching overhaul of its business but said there would be no job losses as a result.
The company, which became a bank in 1997, said that despite undertaking a "thorough cost review" it would not be cutting jobs or closing any of its 313 branches.
A spokeswoman said: "We are not one of the big banks and are not as staff-heavy as some of the others.
"We are overhauling our policies to become a more customer-focused organisation, which we believe is the only way banks are going to survive in this marketplace."
Alliance & Leicester, which will report half-year results later this week, said the restructuring would be complete by September.
Executive chairman John Windeler will become responsible for long strategic development, including internet development and partnerships with "complementary organisations".
Under group managing director Peter McNamara, the company will comprise three separate personal and two business banking segments.
Mr McNamara said: "Today's announcement is a new chapter in the evolution of the Alliance & Leicester group. I believe we can look to the future with confidence."
The company said it aimed to improve revenues from its 5.5 million customers by targeting specific groups for individual products, which, it added, would also reduce costs.
Alliance & Leicester said good progress was being made on developing its internet business, which will launch in the fourth quarter this year.
It is currently working with Compaq and Prologic to develop a web-based financial product that will be available in a rapid and cost-effective platform.
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