Lloyds Banking Group and Microsoft have announced a new multi-year agreement that will see the tech giant supporting the finance firm with its next stage of AI deployment.

The agreement follows the roll-out of 40,000 Microsoft 365 Copilot licences across the Group, with 97% of colleagues with a licence classed as active users.

The rollout will support Lloyds with its continued deployment of agentic AI systems across its network and offerings, while providing assurances in governance, security, and identity mangement.

Lloyds says the deployment of agentic AI across its operatons will free up colleague time and improve processes, whilst supercharging innovation and customer expereince.

Further, Lloyds will use the deployment to introduce a colleague assistant – an all-colleague-facing, self-service agent across the bank, helping employees access the systems, information and answers they need in one place.

Lloyds Banking Group is also developing additional agents to address specific colleague and customer journeys, all underpinned by Agent 365 capabilities for agent control and orchestration.

The agreement also extends the bank’s use of GitHub Copilot, building on deployment to more than 10,000 Lloyds Banking Group engineers.

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“We’re embedding agentic AI across Lloyds Banking Group to make banking simpler, faster and more personalised for customers,” Ron van Kemenade, group chief operations officer, Lloyds Banking Group, said.

“It means quicker answers and more intuitive services, while helping our colleagues spend more time on the things that matter most.

“Over time, this will help us deliver more seamless experiences for the millions of customers we serve every day.”

Darren Hardman, CEO, Microsoft UK & Ireland, said: “Lloyds Banking Group has long been a pioneer in financial services, consistently using technology to serve their colleagues and customers better.

“The adoption of Microsoft 365 E7 across the Group will help them deliver on their bold vision, and we look forward to working closely with them to help their colleagues and customers maximise the benefits of agentic AI at scale.”