Lloyds Banking Group is launching the UK’s first large-scale, multi-feature AI-powered financial assistant, a move set to transform how its 21 million mobile app customers manage their money. The new assistant, which is set to be available from early 2026, marks a key milestone in the Group’s strategy to embed artificial intelligence as a core enabler across its business.
The AI financial assistant is designed to provide 24/7 personalised financial coaching and guidance. It will be capable of answering customer questions and providing tailored support, with the ability to refer to human colleagues when needed.
Agentic AI: a new standard for customer empowerment
Lloyds is positioning the launch as the first deployment of “agentic AI” by a UK bank to help customers manage their money. Unlike existing virtual assistants, this solution leverages agentic frameworks to break down customer requests, plan actions, and execute tasks, such as converting natural language into code for specific transaction queries.
This technology enables natural conversations and provides hyper-personalised support, allowing customers to ask questions in their own words and receive instant, relevant answers from a secure, personal AI agent.
Ranil Boteju, chief data and analytics officer at Lloyds Banking Group, said: “Lloyds Banking Group is committed to leading the way in mobile banking and technology transformation. 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.”
Addressing the AI ‘trust gap’
The launch comes as AI adoption for personal finance becomes mainstream. According to Lloyds Banking Group’s latest Consumer Digital Index, 56 per cent of UK adults (around 28.8 million people) have used AI in the past 12 months to help manage their money.
However, the research also reveals a significant “trust gap”. Despite high usage, 80 per cent of users are concerned about receiving inaccurate or outdated information, and 69 per cent worry about a lack of personalisation based on their specific circumstances.
Lloyds’ new financial assistant is designed to address this by providing tailored support from within the secure environment of the banking app. Unlike general-purpose AI tools, the assistant is built on the bank’s own Generative AI and Agentic framework, which combines curated bank data with the new technology. This ensures that responses are accurate, tailored, and safe, and that the AI retains memory of the customer’s situation to offer a more holistic experience.
“Our AI financial assistant is underpinned by LBG’s robust AI assurance framework and guardrails, helping deliver safe, explainable and regulated AI-driven interactions,” added Boteju. “Importantly, it provides instant and free access to personalised financial coaching.”
Features and future roadmap
The AI financial assistant, which is currently in beta testing with thousands of Lloyds Banking Group colleagues, will launch with two primary features. The first is a conversational tool allowing customers to request personalised spending insights. The second is a savings and investment tool to help customers make informed financial decisions and plan for their future.
Following the initial rollout, Lloyds plans to expand the assistant’s functionality across its full suite of financial products in 2026 and beyond, including mortgages, car finance, and protection needs.
Helen Bierton, chief digital officer at Lloyds Banking Group, 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.”
