Lloyds Banking Group will launch a large-scale AI-powered financial assistant to help more than 21 million customers manage their money through its mobile app.
The launch marks a significant step in the Group’s plan to embed AI across its operations to enhance customer experience.
Using advanced AI, the assistant will provide round-the-clock personalised financial guidance and act as a financial companion, offering insights and directing customers to human support when required.
Lloyds aims to set a precedent for responsible and customer-focused innovation in the sector through the use of agentic AI.
Its initial features will include a conversational tool for personalised spending insights and a savings and investment function to support financial planning.
Following an initial pilot, Lloyds plans to expand its capabilities to cover more financial products, including mortgages, car finance, and protection services from 2026 onwards.
Built on Lloyds Banking Group’s Generative AI and Agentic framework, the assistant integrates curated bank data to ensure responses are accurate and relevant.
The system enables natural, secure conversations while maintaining the ability to transfer customers to expert colleagues when needed.
Ranil Boteju, Chief Data and Analytics Officer at Lloyds Banking Group, said:
“Our AI financial assistant is underpinned by Lloyds Banking Group’s robust AI assurance framework and guardrails, helping deliver safe, explainable and regulated AI-driven interactions. We believe this innovative tool will not only provide our customers with personalised, round-the-clock support, but also set a new benchmark for the responsible and effective use of AI in UK banking.”
The assistant uses generative AI for conversations and agentic frameworks to interpret requests, plan actions, and execute tasks, such as converting natural language into code for transaction queries.
It is built on a secure and scalable architecture that embeds human accountability and explainability, ensuring reliable and transparent customer interactions.
Featured image credit: Edited by Fintech News Switzerland, based on image by Who is Danny via Freepik
