Posted on March 29, 2019 by staff

Lloyds banking app installs AI features


Lloyds Banking Group has launched a new suite of features to its mobile banking apps to help customers stay connected to their finances.

Lloyds Bank, Halifax and Bank of Scotland customers will now be able to receive mobile notifications which can be customised to track their spending and transactions.

The alerts can let users know when they receive money from a friend or contact, when refunds are credited or when standing orders or bills leave their accounts.

New pilots are also being tested that use advanced machine learning software to alert customers when a regular bill is higher than usual or when they are charged for the first time on a card subscription.

“These latest features have been designed around things that our customers tell us make mobile banking better for them, helping track their account activity and creating opportunities to save,” said Stephen Noakes, retail transformation director of Lloyds Banking Group.

“We are working hard behind the scenes in our technology labs, constantly testing out innovative new ideas to create more choice and control for customers.”

Later this year, customers will also be able to use these alerts to show how much they will have left to spend each month after regular bills, as well as when they are due to leave the account.