Lloyds Banking Group

Back to case studies

About Lloyds Banking Group:

Lloyds Banking Group (Lloyds) is one of the UK’s leading financial institutions, with more than 26 million customers in the UK.

Project overview:

  • Lloyds has selected Vault Core as the platform to replace its legacy mainframe-based core.
  • The long-term strategy is to follow a progressive modernisation approach by putting simpler products on Vault Core first and then migrating 30 million deposit accounts from legacy systems to Vault Core.
  • The bank is going live with a new fixed-term deposit products for friends and family in 2023, with a market launch of 500,000 customers planned for January 2024. 

Deployment approach:

  • Coexistence: migrating existing customers to the new digital banking proposition first, followed by full bank migration in the near future