Lloyds has kicked off a review of its multi-million pound CRM account, which has been held by Proximity since 2010, The Drum understands.
Proximity London has worked with Lloyds Banking Group since 2010, before it spun off from TSB. Following the split, the agency played a crucial role in helping the brand establish a foothold in the market.
Proximity then won more work from the Group when it scooped the CRM account for Halifax in 2014.
However, it is understood that the review covers both its CRM and direct response advertising work.
The aim is to consolidate all of this work into a single integrated customer communications agency appointment on a pan Lloyds Banking Group brand basis.
Lloyds is in a period of transformation and is putting a greater focus on its digital services.
Earlier this week, it announced it would overhaul its digital offering, cutting 6,240 jobs and creating 8,240 new ones in the process.
The bank said it formed part of the £3bn commitment to invest heavily in technology over the course of a three-year strategic plan.
In the three months to 30 September, total revenue at the bank rose to £4.7bn from £4.6bn a year previously, while profit before tax fell 7% to £1.8bn.