London has emerged as the AI finance capital of the UK, with more than three quarters (76%) of people using AI for personal finance in the past year, according to Lloyds Banking Group.
Analysis by the bank shows that nearly half (49%) of Londoners use it daily or weekly, with 48% opting to use it for investment research.
Lloyds Banking Group said nationally, digital tools have become a routine part of money management, with nearly nine in 10 (88%) users managing or tracking their finances digitally at least once a week.
AI is also delivering reported savings, with those using AI estimating an average saving of £399 after following AI-powered financial recommendations.
Londoners report even greater savings of £562 after following AI recommendations, however, just 75% of Londoners who use digital tools feel confident doing so – the lowest of any UK region.
Across the UK, digital finance appears to serve different needs. Yorkshire and the Humber lead the charge for budgeting and tracking spending (44%), the East Midlands for debt reduction (24%) and Wales for managing or growing investments, pensions or ISAs (23%).
Regional differences also appear across day-to-day control and longer-term ambition, the analysis shows.
In the South West, 48% of digital tool users say the tools help them feel more in control, the UK’s highest share, while Northern Ireland records some of the UK’s strongest reported practical outcomes among active digital tool users. Almost half (48%) say digital tools help them manage money more quickly and easily, while 30% say the tools have helped them set and achieve financial goals.
In the North West, 31% of AI users have used it for debt management and 44% for future financial planning, while in the North East, 57% cite day-to-day expenses as a top priority, the UK’s highest share.
Jas Singh, CEO, consumer at Lloyds Banking Group, said: “Financial empowerment doesn’t look the same for everyone or in every region. And place can tell us a lot about the context in which financial choices are made.
“Managing your money online should feel underpinned by tools that can adapt to the life in front of you. The opportunity is to give people useful choices and tools, the confidence to act on them, and control over the financial lives people want to lead. To me, that is true financial empowerment.”
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