15.07.2026
LHV is the first bank in Estonia to introduce a solution that enables customers to connect their bank accounts to artificial intelligence tools and use their financial data securely and under their own control. It marks an important step towards the future of banking and is a solution currently offered by only a handful of banks in Europe.
According to Mihkel Kasepuu, the Chief Technology Officer at LHV, many people are already using artificial intelligence to help manage their finances. ‘Until now, customers have primarily been able to access their banking data through internet banking or the mobile app. Now they can also use that data within the AI tools they already know and use,’ Kasepuu explained.
For example, customers can ask an AI assistant how much they spent on dining out last month, what their largest recurring expenses have been over the past six months or request an account statement covering the last three months. The AI assistant uses only the information available in the customer’s LHV accounts and presents the answers in plain language.
The solution works with AI apps that support the Model Context Protocol (MCP), including Claude and Cursor, and will support additional compatible tools in the future.
According to Kasepuu, banking is no longer confined to a banking app. ‘Customers should be free to decide how and in which tools they use their data. LHV’s role is to ensure they can do so securely, transparently, and under their own control,’ he said. Kasepuu added that LHV sees artificial intelligence playing a key role both in enhancing existing services and in creating entirely new banking experiences, with the MCP integration representing only the beginning.
‘LHV’s goal is to enable customers to use their financial data securely across all the environments they rely on to manage their finances. This new solution paves the way for the next generation of financial services, bringing banking and artificial intelligence together,’ Kasepuu noted.
Secure access using familiar authentication methods
LHV’s new AI integration is built on the same security principles used to access internet banking. To grant access to their data, customers must authenticate themselves using Smart-ID, Mobile-ID, biometric authentication or an ID card, and provide their consent. Furthermore, customers can always decide which data to share, which tool to connect, and can revoke access whenever they choose. ‘Security is the foundation of this solution,’ Kasepuu emphasised.
At the initial stage, the solution provides read-only access, meaning connected apps can retrieve account information but cannot make payments or change account settings.
LHV’s solution is based on the Model Context Protocol (MCP), which is emerging as the industry standard for connecting tools with external services and data sources. Today, MCP is already supported by Claude Desktop, Claude Code, Cursor, and several other AI apps. Alongside MCP, LHV also provides API-based access to the same data as MCP.
An open protocol means that the customer is not tied to any one specific AI service and can use a variety of MCP-supported tools according to their preferences. Connecting a bank account to an AI tool takes just a few minutes, and customers can manage or remove their connections at any time. Access remains valid for 30 days, after which it must be renewed by the customer.
As AI-powered services continue to evolve rapidly, the solution will initially be released as a beta version. With the aim of developing the service in collaboration with customers to ensure it meets their needs as closely as possible, LHV welcomes active feedback from its users. Suggestions and questions can be shared on social media using the hashtags #LHVAPI or #LHVMCP. LHV aims to develop the solution together with its community.
Learn more: lhv.ai
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