Lloyds Banking Group CEO Charlie Nunn on digital transformation - lots of tech successes, but "we're just scratching the surface"

Back in 2018, Lloyds Banking Group, once the subject of a £20.3 billion emergency bailout by the UK Government, announced a transformation plan to get itself fitter for the digital world at a presumed cost at the time of around £3 billion.

Flash forward to 2025 and the banking group is able to point to £1.2 billion in gross savings, driven in substantial part by its technology decommissioning efforts. Alongside that, Charlie Nunn, Group CEO, boasts that Lloyds now operates the largest UK retail bank, with over 20 million app users and over 6 billion logons per annum, stating:

By leveraging new technologies and harnessing the power of the significant data asset, we've been able to meet clear customer needs, drive greater engagement and ultimately deliver business value. For example, our mobile-first home hub ecosystem, available to both relationship and intermediary customers, is a one-stop shop helping ...