Lloyds Banking Group has committed £3 billion to strategic initiatives from 2022 to 2024, aiming to generate an additional £1.5 billion in revenue by 2026, which represents less than 8% of its projected total revenue for that year. Additionally, Fiserv is collaborating with Lloyds on a significant business transformation program for Cardnet, its merchant acquiring joint venture. In a separate development, Lloyds and Nationwide have jointly invested in Scottish AI fintech Aveni, which has secured £11 million in one of the largest Series A funding rounds for a Scottish business in 2024. This investment was led by Puma Private Equity, with participation from Lloyds, Nationwide, Par Equity, and Scottish Enterprise.