As a result of technological change, “the next five years are going to be more transformational than the last 50 in how customers access financial services”.
This is what Lloyds Bank CEO Charlie Nunn said at the Financial Times Global banking summit today (4 December).
Nunn detailed how Lloyds in 2026 will launch an artificial intelligence (AI) app to provide investment advice for people in the UK.
The app will help people financially, regardless of how much money they have or what stage of life they are at.
He added that the UK economy “really needs to focus on getting businesses investing again”.
Lloyds currently has AI tools in the Financial Conduct Authority (FCA) and Nvidia’s “supercharged” sandbox, which is designed to help firms experiment safely with AI to support innovation.
The sandbox was launched in June 2025.
Additionally, the FCA announced yesterday that it is working with major firms to test AI in a safe place to better understand the potential benefits and risks.
The AI Live Testing initiative is the first of its kind in the financial sector to help firms who are ready to use AI in UK financial markets.
Participating firms receive tailored support from the FCA’s regulatory team and its technical partner Advai to develop, assess and deploy safe and responsible AI.
Businesses such as Gain Credit, Homeprotect part of the Avantia Group, NatWest, Monzo, Santander, Scottish Widows part of Lloyds Banking Group and Snorkl will be taking part in the first group.
The city watchdog believes this initiative will help it understand how AI could shape UK financial markets and inform its future approach to the technology.
Nunn joined Lloyds in August 2021 from HSBC where he was global head of personal banking and wealth management.
He succeeded António Horta-Osório.
