Lloyds Banking Group has rolled out a suite of new features for its mobile banking app, including spend tracking, bill payment alerts and spare change savings options.

Available initially to users of Android mobiles, Lloyds Bank, Halifax and Bank of Scotland customers will be able to receive mobile notifications which can be customised to track their spending and transactions.

The alerts can let users know when they receive money from a friend or contact, when refunds are credited or when standing orders or bills leave their accounts.

New pilots are also being tested that use machine learning software to alert the bank's nine million mobile customers when a regular bill is higher than usual or when they are charged for the first time on a card subscription. 

Later this year, customers will also be able to use these alerts to show how much they will have left to spend each month after regular bills, as well as when they are due to leave the account.

Stephen Noakes, Retail Transformation Director, Lloyds Banking Group, says: “These latest features have been designed around things that our customers tell us make mobile banking better for them, helping track their account activity and creating opportunities to save.

 “We are working hard behind the scenes in our technology labs, constantly testing out innovative new ideas to create more choice and control for customers.”

 From this month Lloyds, Halifax and Bank of Scotland customers will also be able to register to a Save the Change service on mobile apps, rounding up debit card spending to the nearest pound and depositing the excess into a savings account 

Customers can sign up for Save the Change in a branch or through internet banking, with almost a million registrations since it was launched.

Source: https://www.finextra.com/