Lloyds Banking Group leverages FICO to support GBP £7 billion lending

Lloyds Banking Group has implemented the FICO Platform to support more than £7 billion in annual lending and address the challenges posed by its previous lending infrastructure.

The adoption of the FICO Platform forms part of Lloyds Banking Group's strategy to migrate its lending operations to the cloud. The updated system now leverages real-time data ingestion and advanced analytics to enhance the group's lending decisions and operational efficiency.

Since implementing the platform, Lloyds Banking Group has reported a 2.5% increase in credit card approvals, as well as a doubling of new-to-bank consumer loan approvals. The transition has also resolved over 50 system limitations and pain points within its lending process.

The company's previous system consisted of more than 20 separate on-premises applications with complex data flows, resulting in fragmentation and hindering the integration of new data assets required for responsible lending and scalability.

"It became clear that our lending infrastructure was becoming a barrier to the strategic growth ambitions of the bank. We needed the ability to scale to meet our customers' needs within the digital channels. We also needed to bring in new data assets to support growth, sustainability, and enhance our responsible lending position," Ian Rockliffe, Head of Consumer Credit Risk Transformation at Lloyds Banking Group, as he commented on the imperative to update the infrastructure.

"Working with FICO, we have been able to simplify the whole technology estate and implement a market-leading cloud-based infrastructure. This delivers major technology enhancements and other significant benefits. We serve one out of every two households in the UK, and these changes help us say 'yes' to more customers," he added.

Following the launch of the FICO Platform, Lloyds Banking Group introduced a cloud-based application viewer for its underwriters and other teams. The group has also been able to execute a bureau data upgrade within weeks rather than the several months required under its previous system.

"Not only has the new integration helped LBG to change its technology fundamentally, but the Group has also adopted a truly agile approach when delivering technical and business change. Upgrades no longer take months or years, but can be completed within minutes and days, providing significant operational efficiencies," Nikhil Behl, President, Software at FICO, highlighting the operational improvements.

The new infrastructure enables Lloyds Banking Group to optimise its lending strategies and share decision logic across various product portfolios, promoting consistency for customers and enabling swifter changes.

The data transition required extensive mapping to ensure decision and bureau data were appropriately maintained, minimising potential impacts on downstream systems and users.

"This was a huge undertaking, given the prevalence of the decision data and bureau data across the business, but implementation was efficient and seamless," Rockliffe described the process.

"We are already seeing great results on loans due to the bureau data upgrade, and expect to see the same on cards. Our new lending infrastructure, with the FICO Platform at its core, has allowed us to scale and adapt, delivering another key strategic initiative for the group: bringing credit card eligibility assessments in-house. Importantly, we are also seeing robust performance of the new architecture, ensuring we are there to meet the lending needs of our customers 24/7," Rockliffe reports early successes from these technological changes.

Lloyds Banking Group's implementation of the FICO Platform earned it the 2025 FICO Decision Award for Cloud Deployment.

"Lloyds' achievement goes far beyond a typical system upgrade — it's a transformation that redefines what's possible with cloud technology in banking. The judges were particularly impressed by the team's ability to tackle legacy complexity with a data-driven approach, using decision intelligence to modernise decision-making at scale," Megha Kumar, Research Vice President at IDC and a member of the FICO Decision Awards judging panel, commented.