Lloyds Survey Indicates Tech Pulls Ahead in Strategy Plans

In its tenth annual survey of more than 100 senior decision-makers in the UK’s largest financial services firms, technology comes out as a winner as leaders have expressed a renewed confidence in its growth trajectory. 

Lloyds Bank, which supports 27 million customers across retail and commercial financial services, ran the survey between April and March of this year. 

The survey highlights that 94% of respondents – the makeup of which contain asset and wealth managers, insurers, financial sponsors and banks – expect business to grow over the next decade. 

The figure is on the rise as the 2025 survey indicated only 81% thought their business would grow. 

Shorter-term growth outlooks have also seen an improvement year-on-year as five-year expectations rise from 83% to 92% and 12-month growth expectations up from 54% to 67%. 

Where has this confidence come from? 

Lloyds notes that the confidence is backed by a “dramatic shift” towards emerging technologies as the focus is placed on moving away from the testing stage and turning attention to deployment. 

In 2024, only 25% of respondents to the survey noted that the investment was leading a growth lever – that number rose to 41% in 2025, and is up to 77% in 2026.

Lisa Francis, Global Head of CIB Coverage at Lloyds, says: “Despite global uncertainty, financial institutions are building confidence by harnessing technology to drive long-term growth. 

“The sector is prioritising the areas that will define future competitiveness, from AI and emerging technology to data, talent and international expansion.”

AI becomes prevalent in this shift, as 93% of respondents believe that the biggest impact on financial services in the UK over the next five years will be AI and machine learning. 

The survey further indicates that 91% of leaders expect that in the next 12 months, their organisation will increase investment into AI. 

Capital expenditure year-on-year is planned to increase, according to 64% of respondents, reflecting on operational resilience in addition to long-term competitiveness and productivity, says the bank. 

Lisa continues: “What is clear is that growth in the next decade will be shaped by the ability to adapt, invest and scale new capabilities. 

“Advanced AI and data solutions are moving from ambition to adoption, with institutions increasingly looking at how these technologies can improve productivity, deepen client relationships and create new opportunities across markets.”

Where is the best place to grow? 

The UK has long been a hub for growth in not only the technology space, but also for financial services.

This confidence in the UK is reflected in the survey as seven in 10 respondents expecting the hub to retain its position as a leader for financial services; an increase from 60% in 2024. 

The sector’s beliefs that the UK remains strong for capital markets, on top of regulation and international connectivity has remained prevalent through these results. 

Confidence in the UK is vital, as the hub continues to provide specialist expertise in infrastructure relating to professional services that not only foster growth in home territory, but also attract international financial activity.