Lloyds Bank Targets Drivers with New Support Strategy

Lloyds Banking Group has unveiled a new feature in its app, named ‘Manage Your Car’. Supporting with exactly what it says on the tin, the service is designed to ease admin associated with car ownership and driving. 

Lloyds is sharpening its customer focus strategy as it offers a single place for users to receive reminders for MOTs, insurance and servicing alongside the ability to explore finance options. 

Research from the banking giant indicates that one in five drivers forget essential car admin such as insurance, tax or MOT, with 13% missing an MOT entirely. 

Lloyds notes that 11% of those who missed tasks ended up facing a higher cost or fees as a direct result. 

All customers of Lloyds Bank will be able to access the feature, available in the Lloyds app 

Nick Williams, Managing Director of Transport at Lloyds, notes: “Juggling multiple apps, deadlines and rising costs means things can slip through the cracks for people trying to stay on top of their car admin.

“Our new app feature is designed to make this simpler. By bringing helpful information, reminders and financial tools together in one place, we aim to help customers stay organised, avoid unnecessary costs and feel more in control.”

Customer-centric tech 

Lloyds’ attention to drivers focuses on a huge proportion of UK customers. 

The feature will be available regardless of who users have chosen for their car finance. 

Data from the customer’s previous MOT will also be available for a more convenient experience. 

Lloyds Banking Group, which provides for 28 million customers, also says the app will show when a customer next has an MOT or tax renewal. 

The bank has also invested in customers with a recent announcement stating it will employ an agentic AI system to support fraud teams in real time. 

Since 2023, the bank has invested £100bn (US$132.2bn) in new fraud technology, demonstrating commitment to its customers. 

The agents work in the background while a customer is on a call with the bank, jumping into action by performing tasks in real-time, such as transaction analysis, identity checks and scam risk assessment.

Humans still remain fully accountable, as Lloyds says colleagues retain the right to overrule AI suggestions. 

The bank has also ensured that customers can rely on its anti-fraud DarkHorse logo to be present during transactions or in the official Lloyds app as a further measure to prevent fraud. The logo indicates that fraud protection and prevention technology is working away in the background. 

The institution is also preparing for the "shortly" expected debut of ScamCheck, a preventative tool integrated into specific transaction flows for Lloyds, Halifax, and Bank of Scotland users. 

During instances where a customer initiates a payment for a fresh online purchase, the system may trigger a series of brief inquiries and a request for imagery if a potential fraudulent risk is detected.

Through their mobile banking app, customers will have the capacity to submit screenshots of intended purchases.

Sophisticated image analysis and machine learning, is then applied as the tool identifies known fraudulent patterns to deliver bespoke alerts. T

This proactive approach aims to empower customers with critical insights, ensuring they feel more in control before finalising any financial transfer.

Lloyds places its customer focus as a top priority amongst new tech and AI applications and anti-fraud measures.