Lloyds study finds majority of UK adults use AI to budget, save, and plan finances—but trust concerns persist

Lloyds study finds majority of UK adults use AI to budget, save, and plan finances—but trust concerns persist

(IN BRIEF) Lloyds Banking Group’s latest Consumer Digital Index reveals that personal finance is now the leading use of artificial intelligence in the UK, with 28.8 million adults using AI tools to manage money, save, and learn about financial planning. The study shows strong growth in digital confidence and highlights AI’s potential to boost financial wellbeing, as users report saving an average of £399 a year through AI insights. However, trust remains a critical issue, with most users expressing concerns about data security and accuracy. CEO Jas Singh emphasized that the next challenge for banks is building trust by pairing technological innovation with expert guidance, ensuring digital tools remain both effective and dependable.

(PRESS RELEASE) LONDON, 3-Nov-2025 — /EuropaWire/ — Lloyds Banking Group has revealed that artificial intelligence has become the leading application of AI among UK consumers, with more than 28 million adults using it to manage their finances. According to the 2025 Consumer Digital Index, the UK’s largest study of digital and financial capability, 56% of adults say they’ve used AI in the past year for money management—making it the most common use of AI nationwide.

The research shows that AI is increasingly viewed as a practical financial companion, with the most popular uses including budgeting (52%), savings goal planning (53%), and financial education (51%). Many users are also turning to AI for investment research (37%), future planning such as pensions (39%), and debt management (26%). One in three people now use AI weekly to assist with money matters—more frequently than for shopping recommendations, travel advice, or health guidance.

On average, UK adults estimate they’ve saved £399 per year thanks to AI-generated insights, highlighting the technology’s growing role in improving financial awareness and behavior. However, the report also underscores the challenges of trust and reliability. While adoption is rising, 83% of users remain concerned about data privacy, and four in five (80%) worry about receiving inaccurate or outdated information. This tension reflects a broader trust gap between enthusiasm for digital tools and confidence in their accuracy.

Jas Singh, CEO of Consumer Relationships at Lloyds Banking Group, commented: “AI is empowering millions to feel more confident about their financial decisions – but it’s vital they receive information they can trust. As AI becomes a bigger part of our financial lives, trust is the next frontier. That’s why banks must combine innovation with trusted expertise to ensure technology serves people securely and transparently.”

The 2025 Consumer Digital Index also highlights the strong connection between digital confidence and financial wellbeing. Nearly nine in ten (87%) people in the UK now feel confident using the internet, with two-thirds (66%) saying being online helps them manage money better. Those with higher digital capability are twice as likely to feel financially secure and less stressed about money.

As part of its ongoing commitment to financial education and inclusion, Lloyds continues to offer free resources through the Lloyds Bank Academy, which provides online courses, webinars, and in-person training to help individuals and businesses improve their digital and financial skills.

Notes to Editors

About the Consumer Digital Index
The Consumer Digital Index is the UK’s largest study of digital and financial lives. First published in 2016, the report uses transactional and survey data to explore attitudes toward technology and online services, and how these relate to financial well-being.

About Lloyds Banking Group
With 28 million customers, we’re proud to be the UK’s biggest digital bank. Our services span retail and commercial banking, insurance and long-term savings, delivered through trusted brands including Lloyds, Halifax, Bank of Scotland and Scottish Widows.

Our purpose is Helping Britain Prosper. For more than 320 years, we’ve served households and businesses across the UK. Today, we’re transforming how we do that. We’ve invested more than £4bn in our digital transformation, and we’re just getting started. That means building smarter, more resilient tech, expanding our use of AI, and creating seamless experiences for a digital-first Britain.

Methodology
This press release is based on the findings of the 2025 Lloyds Banking Group Consumer Digital Index report.

Data in the report is drawn from research conducted by Gusto Research, comprising of:
• A nationwide online survey of over 5,000 internet users, aged 18+, based in the UK.
• A survey of 1,001 x 15-minute telephone interviews of LBG customers.
• 300 x 15-minute interviewer-administered face-to-face surveys amongst ‘Digitally Excluded’ consumers.
• Anonymised transactional data from one million customers across Lloyds Banking Group brands.

LINK TO REPORT: The full Consumer Digital Index report will be available online from 00.01 on Monday 3rd November 2025 via this URL: lloydsbankinggroup.com/media/consumer-digital-index.html?utm_source=pressrelease&utm_medium=backlink&utm_campaign=financial-empowerment&utm_term=organic&utm_content=cdi-2025

The information in this release is intended for the sole use of journalists and media professionals. It has been prepared from information that we believe is collated with care, but it is only intended to highlight issues and it is not intended to be comprehensive. We reserve the right to vary our methodology and to edit or discontinue/withdraw this, or any other report. Any use of this report for an individual’s own or third party commercial purposes is done entirely at the risk of the person making such use and solely the responsibility of the person or persons making such reliance. Copyright © Lloyds Banking Group plc and its subsidiaries. All rights reserved.

Media contact:

Gregor Low | gregor.low@lloydsbanking.com | 07500 078 879

SOURCE: Lloyds Bank plc