Last year, the expanded remote mortgage advice video service was used by approximately 38,000 customers having already discussed their needs with remote advisers in one of the 270 branches.
The lender said that it is adopting new technologies, introducing machine learning and creating approximately 780,000 hours of additional colleague capacity through the use of robotics for simple repetitive tasks.
It also said that throughout 2018 it has increased investment in technology which now represents 16 per cent of operating costs, with over two-thirds relating to enhancing existing capabilities and creating new ones.
This follows the recent launch of its 100 per cent parent-assisted Loan to Value (LTV) Lend a Hand mortgage, targeting first-time buyers.
In 2018, Lloyds Bank’s open mortgage book balances were broadly flat at £267bn, whilst the closed mortgage book continued to run off, reducing by a further £2.4bn throughout 2018, standing at £21.2bn.
The bank said its credit performance in the UK mortgage book remains strong with average mortgage loan to value ratios broadly stable at 44.1% and new arrears as a proportion of the total book remaining low.
Net interest margin rises to 2.93%
The bank’s annual results also showed that its pre-tax profit increased 13 per cent to £5.96bn from £5.28bn the year before.
António Horta-Osório, group chief executive at Lloyds Bank, said that 2018 has been a year of strong strategic and financial delivery.
He added: “We have made significant progress against the priorities we set out at the start of the year when we launched the third stage of our strategic plan, which is supported by investment of more than £3bn over the plan period.
“I remain confident that with our unique business model and market-leading efficiency we can continue to increase investment in customer propositions and grow our leading digital bank, whilst at the same time delivering strong financial performance and market leading returns.”