The Lloyds system is better
I have the 2FA device I have to use with HSBC/FirstDirect: it's a huge keyring thing that I never have near me when I use it.
The Lloyds system is far superior: doing anything that might cost you money makes a robot ring you on your mobile, which you're much more likely to have on you. You then type the number on-screen into your mobile, and you're done.
A much better balance of convenience vs. security.