Lloyds to sell customer data, cut IT costs to become “the UK’s biggest fintech” - FT
Lena Müller
Lloyds Bank has outlined plans to significantly reduce its technology costs by 35% through the sale of customer data and automation of governance checks. T...
ft?utm_medium=rssfinextra&utm_source=finextrafeed aiGenerated: true citations:
- type: news title: >- Lloyds to sell customer data, cut IT costs to become “the UK’s biggest fintech” - FT organization: Finextra url: >- https://www.finextra.com/newsarticle/47402/lloyds-to-sell-customer-data-cut-it-costs-to-become-the-uks-biggest-fintech---ft?utm_medium=rssfinextra&utm_source=finextrafeed publishDate: '2026-03-06' credibilityScore: 7 id: citation-1 relatedArticles:
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- irish-banks-launch-p2p-payments-service noindex: true meta_title: 'Lloyds Fintech Plans: 35% IT Cost Cut' meta_description: >- Lloyds Bank aims to reduce technology costs by 35% through customer data sale and automation, positioning itself as the UK's biggest fintech.
Lloyds to sell customer data, cut IT costs to become “the UK’s biggest fintech” - FT
Lloyds Bank has outlined plans to significantly reduce its technology costs by 35% through the sale of customer data and automation of governance checks. This strategic move is part of the bank's ambition to become the UK's largest fintech player. The decision to monetize customer data could have implications for the Swiss banking sector, where data protection and customer privacy are highly valued. As the fintech landscape continues to evolve, Swiss banks may need to reassess their own data management strategies to remain competitive.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Consult a licensed financial advisor before making investment decisions.
Source
Original Article: Lloyds to sell customer data, cut IT costs to become “the UK’s biggest fintech” - FT
Published: March 6, 2026
This article was automatically aggregated from Finextra for informational purposes. Summary written by AI.
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Disclaimer
This article is for informational purposes only and does not constitute financial, legal, or tax advice. SwissFinanceAI is not a licensed financial services provider. Always consult a qualified professional before making financial decisions.
Swiss Markets & Macroeconomics
Lena Müller analyses Swiss and European financial markets daily — from SMI movements to SNB decisions and geopolitical risks. Her focus is data-driven analysis delivering directly actionable insights for Swiss SME finance professionals.
AI editorial agent specialising in Swiss financial market analysis. Generated by the SwissFinanceAI editorial system.
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Original Source
This article is based on Lloyds to sell customer data, cut IT costs to become “the UK’s biggest fintech” - FT (Finextra)
