First Direct has become the model of tele-banking worldwide, despite similar initiatives undertaken by large international banks. The case describes the history of First Direct and the various components of its operations, especially around the central issue of relationship marketing at a distance.

The case describes the rapid development of BCP into one of the largest banks in Portugal with 6 distinct networks and hundreds of branches. Its growth was based largely on a strategy of customer responsiveness, rooted in a sophisticated approach to market segmentation and in a bold use of information technology and innovation to gain competitive advantage.