British retail bank Lloyds Bank’s strategy involves revving up its AI initiatives in 2025.

The $1.1 trillion bank revealed to Bank Automation News that its AI ambitions include:

• Providing code translation between software engineers to categorize company documents;
• Collaborating with educational institutions and regulators to develop AI applications; and
• Developing customer-facing AI initiatives and processes it plans to launch in 2025.

AI in action

Lloyds already uses AI to improve talent searches and combat the skills shortage.

The bank on Dec. 18 revealed that it has partnered with cloud-based financial and human resources management platform Workday to use AI in its hiring process, including for:

• Filtering applications by location and skill set;
• Flagging candidates who are ineligible;
• Using chatbots for general inquiries; and
• Minimizing biases.

Lloyds has spent the past year upping its AI game, including hiring Head of Data and AI Strategy Rohit Dhawan to lead its AI Centre of Excellence. Dhawan previously served as software development manager at Amazon Web Services.

The center’s primary task is democratization of AI across all bank functions, Dhawan said in a November blog post.

Lloyds in September announced a partnership with AI specialist Cleareye.ai to streamline the processing and compliance checking of trade finance documentation for Lloyds clients.

Lloyds on Dec. 20 announced that it added these features to its banking app:

• Link Pay, a tool that creates a unique link or QR code that can be shared through social media for payment requests; and
• A benefit calculator, which asks users a series of questions for a personalized benefits summary.

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