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. T...
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.
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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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This article is based on Lloyds to sell customer data, cut IT costs to become “the UK’s biggest fintech” - FT (Finextra)
