Lloyds Banking Group Patents AI-Powered Cybersecurity Technology

Lloyds Banking Group has secured a patent for its Global Collaborations Engine (GCE), an AI-powered tool designed to identify genuine cyberthreats while reducing false positives. The GCE analyzes alerts across multiple cybersecurity technologies, cross-referencing data to pinpoint real threats more accurately.

The Intellectual Property Office has granted Lloyds patents for the GCE in both the UK and US. The bank is now enhancing the engine’s capabilities, leveraging AI to improve its effectiveness.

Matt Rowe, Chief Security Officer at Lloyds, stated, “The GCE allows us to identify threats more quickly and efficiently, ensuring customer protection. This innovation reflects our commitment to advancing cybersecurity with cutting-edge technology.”

The announcement follows Lloyds’ IT transformation strategy, which will impact 6,000 employees as the bank modernizes its operations.