Archives

May 21, 2024 @ 8:42 am By Omar Faridi  |  

The number of growing UK sectors remained resilient in April, despite cost pressures spreading across the economy, according to the latest Lloyds Bank UK Sector Tracker. In April, eight of the 14 UK sectors monitored “by the Tracker saw output growth – one fewer than… Read More

May 1, 2024 @ 10:52 pm By Omar Faridi  |  

Lloyds Bank’s latest Business Barometer has found that overall business confidence is unchanged in April – staying at 42%. The result means the overall confidence figure “remains at an elevated level compared to the Barometer’s long-term average (28%), with only January 2024 seeing businesses report… Read More

April 16, 2024 @ 8:32 am By Omar Faridi  |  

Lloyds Bank has completed its first transaction using an electronic Bill of Lading (eBL) on the WaveBL trade documentation platform, in a cross-border deal that featured entirely digital exchanges of documentation. The deal closely follows Lloyds Bank “becoming the first UK bank to join the… Read More

April 14, 2024 @ 11:41 pm By Omar Faridi  |  

With summer fast approaching, Lloyds Bank is warning hopeful holidaymakers they could fall victim to a scam when booking a trip. These scams have reportedly “risen 7% over the past year, with people losing £765 on average, with those aged 35 to 44 – often… Read More

April 10, 2024 @ 8:20 am By Omar Faridi  |  

Lloyds Bank is launching Ready-Made Pension in order to make saving for retirement easier. Just two fifths (42%) of the UK population know “how to contribute more into their pension,” according to new research from Lloyds Bank. The same study also found “that of those… Read More

March 4, 2024 @ 7:25 am By Omar Faridi  |  

Businesses continued their positive start to the new year, Lloyds Bank’s latest Business Barometer has found. The Barometer – which measures businesses’ overall confidence “by assessing their trading prospects and optimism for the economy – found that while overall confidence dipped slightly to 42%, businesses… Read More

February 22, 2024 @ 2:11 am By Omar Faridi  |  

Lloyds Bank claims that it has become the first UK bank to join the WaveBL electronic trade documentation platform, unlocking new trade efficiencies and sustainability benefits for its clients by using electronic Bills of Lading (eBLs). Bills of Lading are a critical document in international… Read More

December 23, 2023 @ 3:24 am By Omar Faridi  |  

Lloyds Bank has continued to strengthen its support for corporate businesses “across the North West by further investing in its Corporate and Institutional Banking team in the region.” The Manchester-based team, which “provides strategic funding solutions across both corporate and private equity backed businesses, has… Read More

December 1, 2023 @ 8:15 am By Omar Faridi  |  

Lloyds Banking Group is reportedly the first UK bank to adopt fintech platform PrimaryBid’s Fuse platform in order “to expand access to UK capital markets transactions for customers.” This partnership will enable significantly greater participation “for customers of Halifax Share Dealing, Lloyds Bank, Bank of… Read More

November 13, 2023 @ 8:52 am By Omar Faridi  |  

A growing number of British investors risk being defrauded by a wave of fake adverts posted on social media, according to a new a warning issued by Lloyds Bank. The number of cryptocurrency investment scams reported1 “by victims so far this year has risen by… Read More

October 10, 2023 @ 9:26 pm By Omar Faridi  |  

Lloyds Bank has developed a new solution where clients can request digital Direct Guarantees or Standby Letters of Credit, helping them to trade more efficiently, safely, and securely. The bank’s Paperless Guarantee initiative, “created to support businesses who have a high volume of transactions requiring… Read More

September 19, 2023 @ 9:35 pm By Omar Faridi  |  

Lloyds Banking Group has invested €3 million in technology company Enigio to expand its use of digital documentation in trade. The €3 million investment will allow Enigio “to expand its bespoke solution, trace:original, which removes the need to physically transfer paper documentation within trade transactions.”… Read More

March 10, 2023 @ 8:30 am By Omar Faridi  |  

Lloyds Banking Group has invested £10 million in digital identity company Yoti, an investment which supports the development of innovative technology “to keep people safe online, tackle the ever-growing risks of identity fraud, and give people more control over their personal data.” Yoti offer “a… Read More

August 19, 2022 @ 11:26 am By Omar Faridi  |  

Lloyds Bank has completed the UK’s first transaction “utilizing a digital promissory note purchase.” This “landmark” transaction significantly “increases speed of payment and paves the way for a significant increase in the use of promissory notes for a broad range of transactions.” As noted in… Read More

June 1, 2022 @ 7:46 am By Omar Faridi  |  

The United Kingdom’s cost of living crisis is leading to a considerable increase in consumers checking their credit score. This, according to a recent update from Lloyds Bank. Elyn Corfield, Managing Director Consumer Finance at Lloyds Bank said: “Almost 1 million people checked their credit… Read More

May 25, 2022 @ 11:44 am By Omar Faridi  |  

Lloyds Bank has teamed up with software provider Alfa in order to make it simpler for clients to use asset finance to manage their working capital. Managing capital properly, ensuring the appropriate balance between funding growth, increasing stock, and retaining funds for financial resilience, is… Read More

April 11, 2022 @ 10:35 am By Omar Faridi  |  

More than 1.2 million subscription payments have reportedly been stopped since summer 2021, as tech puts customers in greater control of their spending, according to data from Lloyds Bank. As noted in a blog post, popular TV, film and music streaming services “made up almost… Read More

January 28, 2022 @ 12:51 pm By Omar Faridi  |  

Automobile dealership JCT600 has reportedly become the first retailer in the UK to use Lloyds’ PayFrom Bank account-to-account payment solution, displacing plastic cards at the online checkout. Introduced in July 2021, PayFrom Bank brings together Mastercard’s Payment Gateway capabilities/functionality and its Open Banking Connect platform… Read More

July 27, 2021 @ 11:55 am By Omar Faridi  |  

Lloyds Bank Commercial Banking will be utilizing Mastercard’s Open Banking merchant payment solution to launch PayFrom Bank. The solution allows people to carry out online payments directly from their bank accounts, giving customers more choice over “how they pay” while providing merchants with “instant settlement… Read More

November 19, 2020 @ 9:07 am By Omar Faridi  |  

Lloyds Bank, a British retail and commercial bank with branches across England and Wales with around £436 billion in assets, is reportedly planning to shut down 56 physical branch locations. The Lloyds Banking Group confirmed that it had been planning to close some of its… Read More