Lloyds turns to Google to solve its digital dilemma

By Oliver Smith on Tuesday 10 March 2020

Digital Banking

One of Britain’s largest banking groups has signed a partnership with one of America’s digital giants.

Lloyds turns to Google to solve its digital dilemma
Image source: Lloyds Banking Group.

Lloyds Banking Group will start deploying Google Cloud services to streamline its customer experience as part of a five-year partnership with the search giant.

The deal will also see Google teams working with Lloyds to enhance the bank’s “engineering disciplines” to boost efficiency and build innovative new services.

“As the UK’s largest digital bank we have made strong progress in transforming not only our systems, but also how we work,” said Lloyds group transformation director Zaka Mian.

“The size of our digital transformation is huge and Google Cloud’s capabilities will help drive this forward, increasing the pace of innovation, as well as bringing new services to our customers quickly and at scale. This collaboration gives us a strategic advantage to continue as a leader in banking technology.”

Lloyds said the deal is part of the bank’s £3bn digital transformation project, but did not disclose the value of the Google deal itself.

Google Cloud is also used by other financial giants like HSBC, Refinitiv and Atom Bank.

"Banking customers today expect secure access to their funds, without downtime, and delivered through the modern experiences they receive in other aspects of their lives," said Google Cloud CEO Thomas Kurian.

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