Lloyds Banking Group is ramping up its AI development through a new machine learning and generative AI platform built on Google Cloud’s Vertex AI. With over 300 data scientists and AI developers now actively using the platform, the bank says it has transformed the speed and scale at which it can deploy impactful AI use cases across the organisation.
The transition involved migrating 15 modelling systems—comprising hundreds of individual models—from its legacy on-premise infrastructure to the cloud, a move that also cut 27 tonnes of CO₂ emissions. More importantly, the platform has unlocked new capabilities across key operations, including a mortgage algorithm that slashes income verification time from days to just seconds.
Since adopting Vertex AI, Lloyds has launched over 80 new machine learning initiatives and more than 18 generative AI systems into production. Another 12 GenAI deployments are expected by the end of June. These tools are being integrated across a broad range of the bank’s services, improving automation, efficiency, and customer experience.
One of the most ambitious projects currently underway is a new Agentic AI system designed to power customer interactions. Developed in partnership with Google Cloud, the prototype is already in testing and slated for a public launch later this year.
Ranil Boteju, group chief data and analytics officer at Lloyds, said: “Moving to Vertex AI has been transformative for us as a Group, providing us 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.”
This partnership with Google Cloud underscores Lloyds’ commitment to using AI to enhance both its internal operations and customer-facing services while aligning with its sustainability goals.