1655 GMT - If high-street U.K. banks aren't at the forefront of transformation, they will lose relevance, Lloyds Banking Group's COO says at the MoneyLIVE Summit in London. "The U.K. is looking for growth and for that we need a very efficient, modern and innovative platform for financial services, not just for payments--this applies to mortgages, it applies to financial markets," says Ron van Kemenade, who joined the U.K. lender in 2023 after two decades at Dutch peer ING. The unlimited possibilities of technology and artificial intelligence provide a huge opportunity, he says. "If we don't lead this transformation, we lose relevance, and that's a big message for every one of us," he adds. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 12:55 ET (16:55 GMT)
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