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Lloyds Banking Group (LBG) has partnered with Microsoft to accelerate the group’s digital transformation as part of a multibillion-pound tech investment pledge announced two years ago.

The strategic partnership will see the tech giant develop a “modern digital workplace” for the group, which has committed to investing £3 billion in technology to bring its offerings up to speed with agile challenger banks like Monzo and Revolut.

Under the partnership, LBG will get the full force of Microsoft Managed Desktop: Office 365 productivity tools, Microsoft-managed security and feature updates, and a cloud-based “advanced device solution” to support the group’s currency management.