Lloyds migrates key data science and AI capabilities to Google Cloud

Lloyds Banking Group has partnered with Google Cloud to migrate key data science and AI platforms to the new platform, as it seeks boost customer service and operational efficiency through the integration of high-impact AI use cases.

The transition included over 15 modelling systems migrating to the new platform, including hundreds of individual models from the group’s on-premises infrastructure.

Google Cloud provides a wide range of cloud computing services, offering an AI stack with its own planet-scale infrastructure, custom chips, AI generative models and development platform.

The firm said that more than 300 data scientists and AI developers across the group are currently using the platform to develop new solutions.

As part of its transformation, Lloyds is building a new machine learning (ML) and generative AI (genAI) platform using Google Cloud’s Vertex AI to bolster customer service.

The company is also developing an agentic AI system in collaboration with Google Cloud that aims to improve how customers interact with the bank and is expected to be rolled out to customers later this year.

Additionally, the Group is currently implementing advanced AI models including an algorithm that reduces the income verification phase in customer mortgage applications from days to seconds.

Since the implementation of the new platform on Vertex AI, the bank has launched over 80 new ML use cases and put over 18 genAI systems into production, covering the entire business. A further 12 genAI systems are expected to go live by the end of June.

Lloyds Banking Group said it chose Google because it offers a flexible solution that can integrate a variety of tools, including open-source models, as AI continues to quickly evolve.

“This transition is unlocking new opportunities to innovate, enhancing the Group’s ability to provide cutting-edge, personalised financial services,” the firm said.

Ranil Boteju, group chief data and analytics officer at Lloyds Banking Group said that moving to Vertex AI has provided the bank with the scalability and reliability to innovate with AI at pace. “Vertex AI is enabling data scientists and AI developers across the Group to access GenAI solutions with consistent guardrails, as well as giving them the flexibility to use Large Language Models from third parties and open-source providers, as well as Google’s Gemini model.”

Currently the largest UK retail and commercial financial services provider, Lloyds Banking Group serves around 27 million customers. The bank offers a range of services including retail and commercial banking, general insurance, and long-term savings, provided through well-known brands iLloyds, Halifax, Bank of Scotland and Scottish Widows.