Lloyds Banking Group has announced its plans to introduce an AI-powered financial assistant for its customers, with a public rollout planned for early 2026.
The bank said that this tool will be the first of its kind in the UK, offering features to help users manage spending, savings, and investments through Lloyds’ mobile app.
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Also, the assistant’s functionality is said to expand over time to support additional financial products, including mortgages and car finance.
According to a Bloomberg report, Lloyds is currently testing the AI assistant with around 7,000 employees, who have conducted 12,000 trials of the system.
The AI assistant will operate as a conversational tool, allowing users to ask questions about their finances and receive instant responses.
Lloyds Banking Group chief data and analytics officer Ranil Boteju said: “Lloyds Banking Group is committed to leading the way in mobile banking and technology transformation.
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By GlobalData“By becoming the first UK bank to bring agentic AI to our customers, we are taking a crucial step in helping millions of customers benefit from more control over their finances.
“This launch is not just about introducing new technology; it is a pivotal step in our strategy as we continue to reimagine the Group for our customers and colleagues.”
The technology uses what is known as agentic AI, which can break down customer requests, plan actions, and execute tasks.
Customers can query a payment, and the assistant will process the request and carry out the transaction. If necessary, the AI will refer users to human specialists.
The AI assistant is designed to provide tailored support by using curated bank data, setting it apart from general-purpose AI models, according to Lloyds.
Built on the bank’s generative AI and Agentic framework, the agent will address these concerns by delivering a more individualised experience.
The bank plans to expand the assistant’s features following its initial pilot phase, aiming to make the technology available to more than 21 million customers.
Lloyds Banking Group chief digital officer Helen Bierton said: “This new technology will take the customer experience up a level by giving people access to a personal AI agent, empowering more people than ever to make informed decisions about their money. We’re excited to bring this feature to our customers in the coming months.”
