Lloyds Banking Group has made a major leap in its strategic digital transformation by leveraging the advanced artificial intelligence (AI) and data science capabilities of Google Cloud. This collaboration aims to enhance both customer and employee experiences while driving innovation and delivering more personalized financial services.
As part of its broader mission to Help Britain prosper, the Group is integrating data and AI to empower customers with smarter financial decision-making. At the heart of this transformation is the development of a new machine learning (ML) and generative AI (GenAI) platform powered by Google Cloud’s Vertex AI.
Over 300 data scientists and AI developers at Lloyds are now using Vertex AI, significantly speeding up the delivery of impactful AI solutions across the organisation.
Migrating to a Next-Gen Machine Learning Platform
In its transition to the cloud, Lloyds Banking Group successfully migrated 15 modelling systems, which include hundreds of individual AI models, from legacy on-premise infrastructure to the new cloud-based platform. This move has not only enhanced efficiency but also contributed to sustainability goals, cutting operational emissions by 27 tonnes of CO₂.
The migration has opened up new capabilities across the Group’s business areas, allowing for more powerful AI model deployment. One standout innovation includes a mortgage application AI algorithm that reduces the income verification process from days to just seconds.
Meeting Evolving Customer Expectations with Advanced AI
Recognising the rapid pace of AI evolution, Lloyds Banking Group needed a flexible, scalable platform that could support diverse tools, including open-source and third-party models. Vertex AI provided that solution, enabling the Group to keep pace with innovation while maintaining security and control through robust guardrails.
Since launching the platform, Lloyds has:
- Initiated over 80 new machine learning use cases
- Deployed more than 18 GenAI systems into production
- Planned to launch an additional 12 GenAI systems by June
The Group is also developing a cutting-edge Agentic AI system—a next-gen solution designed to redefine how customers interact with banking services. Built in collaboration with Google Cloud, this system is currently in the prototype stage and is expected to be rolled out later this year.
Leadership Insights on AI Transformation
Ranil Boteju, Group Chief Data and Analytics Officer at Lloyds Banking Group, said:
“Migrating to Vertex AI has been transformative, providing us the scale and speed needed to innovate with AI across the Group. It allows our teams to access GenAI solutions safely and efficiently while giving us the flexibility to use Google’s Gemini model as well as third-party and open-source tools.”
Tara Brady, President of Google Cloud, added:
“With Vertex AI, Lloyds Banking Group can now deploy powerful machine learning models faster and derive insights more quickly. This partnership is a prime example of how cloud-powered AI can create deeply personalised and meaningful customer experiences.”
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