Lloyds Banking Group unveils UK’s first multi – feature AI – powered financial assistant

Lloyds Banking Group will launch the UK’s first large-scale, multi-feature AI-powered financial assistant, transforming how over 21 million customers manage their money via the mobile app. The launch marks a key milestone in Lloyds’ strategy to embed AI as a core enabler across customer experiences.

At launch, the AI financial assistant will help customers manage spending, savings, and investments, with plans to expand functionality across all financial products, including mortgages, car finance, and protection services. The tool acts as a financial companion, offering tailored guidance, personalised insights, and 24/7 support, with the ability to refer customers to human experts when needed.

Driving Responsible AI Adoption

According to Lloyds Banking Group’s 2025 Consumer Digital Index, 56% of adults—around 28.8 million people—have used AI in the past year to manage money, with ChatGPT being the most popular platform. While adoption is growing, 80% of people worry about inaccurate information and 69% about lack of personalisation. Lloyds’ AI financial assistant addresses these concerns by offering hyper-personalised responses and retaining memory of previous interactions to provide a holistic and safe customer experience.

Key Features at Launch

• Conversational Tool: Allows customers to request personalised spending insights.
• Savings & Investment Tool: Helps customers make informed financial decisions within the secure app environment.

Following the pilot, the assistant will expand to cover the full suite of financial products and deepen its capabilities over time.

Agentic AI: A Technological Leap

Unlike traditional virtual assistants, Lloyds’ AI leverages agentic AI to enable natural conversations and autonomous, goal-driven actions, wrapped in safety guardrails. Built on Lloyds’ Generative AI and Agentic framework, the technology combines curated bank data with advanced AI to ensure accurate, personalised, and secure responses.

Leadership Statements

Ranil Boteju, Chief Data and Analytics Officer, said:

“By becoming the first UK bank to bring agentic AI to our customers, we are helping millions gain more control over their finances. This launch is a pivotal step in reimagining the Group for our customers and colleagues.”

Helen Bierton, Chief Digital Officer, added:

“This technology elevates the customer experience by providing access to a personal AI agent, empowering more people than ever to make informed decisions about their money.”

Secure, Scalable, Responsible

The AI financial assistant is designed with human accountability and explainability at every level. Curated bank data ensures accuracy and differentiation from general-purpose AI models, combining innovative technology with trusted expertise for a safe, personalised, and reliable banking experience.