Lloyds unveils new mobile banking apps

Lloyds Banking Group has launched a new suite of features to its mobile banking apps to help customers stay connected to their finances.

Lloyds Bank, Halifax and Bank of Scotland customers will now be able to receive mobile notifications which can be customised to track their spending and transactions.

The alerts can let users know when they receive money from a friend or contact, when refunds are credited or when standing orders or bills leave their accounts. They will be able to change settings to which alerts they want to receive.

New pilots are also being tested that use advanced machine learning software to alert customers when a regular bill is higher than usual or when they are charged for the first time on a card subscription.

Later this year, customers will also be able to use these alerts to show how much they will have left to spend each month after regular bills, as well as when they are due to leave the account.

Stephen Noakes, retail transformation director, Lloyds Banking Group, said: “These latest features have been designed around things that our customers tell us make mobile banking better for them, helping track their account activity and creating opportunities to save.

“We are working hard behind the scenes in our technology labs, constantly testing out innovative new ideas to create more choice and control for customers.”

Lloyds Banking Group is the largest digital bank in the UK, with more than 15 million customers actively managing their account online and nine million on mobile. It is investing £3bn during the next phase of its strategy, with a strong focus on technology and people. It has pledged to train 1.8 million people, charities and businesses on digital skills by 2020 and recently launched the first Lloyds Bank Digital Academy in Manchester.