02 May 2025

Lloyds Banking Group has significantly improved its lending operations with the implementation of the FICO Platform, supporting over £7 billion in annual lending.

This move addresses the limitations of its previous, fragmented on-premises system of more than 20 applications. The migration to the cloud, powered by the FICO Platform, allows for real-time data ingestion and advanced analytics, improving lending decisions and operational efficiency.

Early results are impressive, with a 2.5% increase in credit card approvals and a doubling of new-to-bank consumer loan approvals. The platform has also resolved over 50 system limitations and pain points. Crucially, the new system allows Lloyds to effectively integrate new data assets, improving responsible lending and scalability.
“Our previous infrastructure was hindering strategic growth,” said Ian Rockliffe, Head of Consumer Credit Risk Transformation. “The FICO Platform allows us to scale to meet customer needs in digital channels and incorporate new data for responsible lending.”

Lloyds Banking Group has reaped tangible benefits such as improved loan performance, and increased efficiency across its credit card processes. The company was awarded the 2025 FICO Decision Award for Cloud Deployment, highlighting the successful transformation.