{"id":892082,"date":"2026-03-14T09:12:52","date_gmt":"2026-03-14T14:12:52","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/14\/lloyds-bank-to-sell-more-customer-data-and-cut-costs-by-35\/"},"modified":"2026-03-14T09:12:52","modified_gmt":"2026-03-14T14:12:52","slug":"lloyds-bank-to-sell-more-customer-data-and-cut-costs-by-35","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/14\/lloyds-bank-to-sell-more-customer-data-and-cut-costs-by-35\/","title":{"rendered":"Lloyds Bank to sell more customer data and cut costs by 35%"},"content":{"rendered":"<div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero Images\/Lloyds-Bank-hero-AdobeStock_335507737_Editorial_Use_Only_searchsitetablet_520X173.jpg\" data-credit=\"William - stock.adobe.com\"  width=\"520\" height=\"173\" alt><\/p>\n<p>William &#8211; stock.adobe.com<\/p>\n<\/p><\/div>\n<div id=\"content-header\">\n<h2>High street giant will increase proportion of total staff that work in technology and data<\/h2>\n<\/div>\n<div id=\"content-center\">\n<ul>\n<li><i data-icon=\"1\"><\/i><\/li>\n<li><i data-icon=\"2\"><\/i><\/li>\n<\/ul>\n<div id=\"contributors-block\">\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"Karl Flinders\">\n\t\t\t\t\t<\/p>\n<p><span>By<\/span><\/p>\n<ul>\n<li>\n\t\t\t\t\t<a href=\"https:\/\/www.techtarget.com\/contributor\/Karl-Flinders\">Karl Flinders,<\/a><br \/>\n\t\t\t\t\t\t<span>Chief reporter and senior editor EMEA<\/span>\n\t\t\t\t\t\t<\/li>\n<\/ul>\n<p>\n\tPublished: <span>06 Mar 2026 16:15<\/span>\n<\/p>\n<\/div>\n<section id=\"content-body\">\n<p>Lloyds Banking Group plans to slash technology costs by hundreds of millions of pounds by 2028, and sell more anonymised customer data to third parties.<\/p>\n<p>According to a <a href=\"https:\/\/www.ft.com\/content\/f32cd6ce-0c99-4180-a977-c2cb420159a3?accessToken=zwAGTFl8poTAkdPzLNbODJlBgNOpd8LLQgFZow.MEQCIF3b7OAFakdHTnDTvTJAt6UJsIiS50-did8m4NjezbzaAiBZiNGfmHpmH5taiQLmMDKybd0nlKd49WEUx4cpoMkldg&#038;sharetype=gift&#038;token=09452fcf-b2fc-457f-b70f-48cededf9379\"><em>Financial Times<\/em><\/a> report, the bank\u2019s chief technology officer, Vic Weigler, outlined its plans.<\/p>\n<p>What is dubbed Technology Strategy 3.0 includes increasing the proportion of staff that work in IT and data roles, making hundreds of internal apps defunct and automating compliance checks in real time.<\/p>\n<p>According to <em>The<\/em> <em>Financial Times<\/em>, Lloyds\u2019 chief operating officer, Ron van Kemenade, wants the bank to be \u201cthe UK\u2019s biggest fintech\u201d.<\/p>\n<p>A Lloyds Banking Group spokesperson said: \u201cUnder our current strategy, we are transforming our business and accelerating our in\u2011house data and technology capabilities so we can deliver better and more innovative digital experiences for customers. We look forward to setting out our future ambitions at our strategy day in July.\u201d<\/p>\n<p>From 2021 to 2025, the bank saved \u00a31.5bn in technology costs, according to documents seen by <em>The<\/em> <em>Financial Times<\/em>.<\/p>\n<p>Artificial intelligence is being increasingly adopted by banks to reduce costs. Such is the scale of AI adoption that <a href=\"https:\/\/www.computerweekly.com\/news\/366637423\/Lloyds-Bank-to-train-all-staff-on-artificial-intelligence\">Lloyds Bank is training all of its 67,000 employees<\/a> how to use it. The bank has launched an AI Academy, with the aim of reaching its target of all staff being AI literate by the end of 2026.<\/p>\n<p>In January, the bank said that staff will be given interactive training modules, short courses, articles, podcasts and opportunities for community learning. It will kick off with every member of staff completing a module on responsible, safe and ethical AI use.<\/p>\n<p>Lloyds wants its staff to be able to use AI in their everyday roles. \u201cScaling AI is about getting real use cases into production so we can simplify processes for colleagues and deliver more personalised services for customers,\u201d said Ron van Kemenade, group chief operating officer at the banking group. \u201cBy investing in the skills of our people, we can do this responsibly and at pace, improving service today and building the foundations to scale new innovations in the future.\u201d<\/p>\n<p>The bank said in a statement: \u201cThe ambition is that by the end of 2026, 100% of colleagues at Lloyds Banking Group will be AI literate: confident, capable and responsible users of AI.\u201d<\/p>\n<p>It had previously <a href=\"https:\/\/www.computerweekly.com\/news\/366621318\/More-than-200-Lloyds-bank-bosses-to-receive-artificial-intelligence-training\">announced AI training for over 200 of its most senior staff<\/a> to ensure the company gets the most out of the technology. The programme, delivered by Cambridge Spark alongside experts from Cambridge University, focused on areas including identifying transformational <a href=\"https:\/\/www.computerweekly.com\/news\/366609673\/Lloyds-Bank-uses-artificial-intelligence-to-check-trade-finance-documents\">opportunities for AI<\/a>\u00a0and spearheading its implementation.<\/p>\n<p>Separately, last year, Lloyds Bank\u2019s plans to cut what it deems its lowest-performing staff was revealed, with around 3,000 employees at risk, half of whom could lose their jobs.<\/p>\n<p>According to the independent union for Lloyds employees, the BTU, bank bosses planned to use its internal HR data to select low performers.<\/p>\n<p>The BTU said the bank\u2019s executive team will monitor statistics in Workday to ensure a 5% job cut target is achieved.<\/p>\n<\/section>\n<section id=\"DigDeeperSplash\">\n<h4>\n\t\t\t<i data-icon=\"m\"><\/i>Read more on Artificial intelligence, automation and robotics<\/h4>\n<ul>\n<li><a id=\"DigDeeperItem-1\" href=\"https:\/\/www.computerweekly.com\/news\/366637423\/Lloyds-Bank-to-train-all-staff-on-artificial-intelligence\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero Images\/Lloyds-Bank-hero-AdobeStock_335507737_Editorial_Use_Only_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/Lloyds-Bank-hero-AdobeStock_335507737_Editorial_Use_Only_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/Lloyds-Bank-hero-AdobeStock_335507737_Editorial_Use_Only.jpg 1280w\" alt ><\/p>\n<h5>Lloyds Bank to train all staff on artificial intelligence<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-2\" href=\"https:\/\/www.computerweekly.com\/news\/366630167\/Lloyds-Bank-to-use-Workday-software-to-help-select-staff-for-redundancy\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero Images\/Lloyds-Bank-hero-AdobeStock_335507737_Editorial_Use_Only_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/Lloyds-Bank-hero-AdobeStock_335507737_Editorial_Use_Only_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero%20Images\/Lloyds-Bank-hero-AdobeStock_335507737_Editorial_Use_Only.jpg 1280w\" alt ><\/p>\n<h5>Lloyds Bank to use Workday software to help select staff for redundancy<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-3\" href=\"https:\/\/www.computerweekly.com\/news\/366630147\/Number-of-UK-banks-reporting-AI-driven-productivity-improvements-doubles\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/finance-stockmarket-predictions-iamchamp-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/finance-stockmarket-predictions-iamchamp-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/HeroImages\/finance-stockmarket-predictions-iamchamp-adobe.jpg 1280w\" alt ><\/p>\n<h5>Number of UK banks reporting AI-driven productivity improvements doubles<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-4\" href=\"https:\/\/www.computerweekly.com\/blog\/Data-Matters\/AI-that-gets-things-done-how-agentic-transformation-is-reshaping-Customer-Experience\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/digdeeper\/4.jpg\" srcset=\"https:\/\/www.computerweekly.com\/visuals\/digdeeper\/4_searchsitetablet_520X173.jpg 960w,https:\/\/www.computerweekly.com\/visuals\/digdeeper\/4.jpg 1280w\" alt ><\/p>\n<h5>AI that gets things done: how agentic transformation is reshaping Customer Experience<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/rms\/computerweekly\/Brian-McKenna-profile-pic-2022-140x180px.jpg\" alt=\"BrianMcKenna\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Brian\u00a0McKenna<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<\/ul>\n<\/section>\n<\/div>\n<p><a href=\"https:\/\/www.computerweekly.com\/news\/366639731\/Lloyds-Bank-to-sell-more-customer-data-and-cut-costs-by-35\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Michele Schroeder<\/p>\n","protected":false},"excerpt":{"rendered":"<p>William &#8211; stock.adobe.com High street giant will increase proportion of total staff that work in technology and data By Karl Flinders, Chief reporter and senior editor EMEA Published: 06 Mar 2026 16:15 Lloyds Banking Group plans to slash technology costs by hundreds of millions of pounds by 2028, and sell more anonymised customer data to<\/p>\n","protected":false},"author":1,"featured_media":892083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,40009,46],"tags":[],"class_list":["post-892082","post","type-post","status-publish","format-standard","has-post-thumbnail","category-customer","category-lloyds","category-technology"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/892082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=892082"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/892082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/892083"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=892082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=892082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=892082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}