Lloyds Bank is looking to launch a pension advice and guidance service via its mobile app.
The service will also allow savers to top up their pension pot.
The bank has set up a joint venture with wealth firm Schroders but would not comment on whether clients of Schroders Personal Wealth would be able to use the technology.
Soft launch with big plans
A pilot version was rolled out last year, which enabled clients to see the value of their pension.
The bank said that it wants customers to expand the app to include other areas such as insurance and wealth management.
A Lloyds spokesperson said to International Adviser that it wants to “build that capability for people to transact and provide customers with a comprehensive choice of execution-only, guidance and advice solutions”.
There is no full launch date for the service. The bank is still developing the platform.
