Lloyds Bank taps Moneyhub for AI-driven transaction categorisation

By Gloria Methri

Lloyds Banking Group (LBG) has selected Moneyhub as its data enrichment and transaction categorisation partner following an in-depth market review. Moneyhub’s AI-driven technology will categorise and enrich all retail and non-retail transactions across the Group’s major brands, including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows.

The collaboration is designed to enhance digital banking experiences by helping customers gain deeper insight into their spending patterns and financial behaviour. Moneyhub’s platform will process a wide range of transactions—including card payments, direct debits, standing orders, transfers, and faster payments—for both income and expenditure.

“Partnering with Moneyhub will allow us to rapidly deliver far richer and more valuable insights for our customers,” said Ranil Boteju, Group Chief Data and Analytics Officer at Lloyds Banking Group. “By combining Moneyhub’s advanced categorisation technology with our in-house GenAI expertise, we’ll improve the time and accuracy of transaction classifications, unlocking new products and services for our customers and providing real-time insights so they can make more informed financial decisions.”

The decision to work with Moneyhub underscores LBG’s ongoing commitment to leveraging innovative technologies that enable hyper-personalisation and smarter banking services. Moneyhub’s categorisation engine has been trained over a decade by user feedback, ensuring a high level of accuracy across complex financial data.

Dan Scholey, Chief Commercial Officer at Moneyhub, said, “We are delighted to be chosen by Lloyds Banking Group as their categorisation partner. Our extensive experience in transaction categorisation has enabled us to develop a highly accurate engine that will benefit LBG and its customers. We look forward to enabling the many use cases this partnership offers, helping LBG become more efficient, profitable, compliant, and customer-centric.”