Tagged: lloyds bank

UK’s Lloyds Bank Completes WaveBL Electronic Bill of Lading Transaction

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

UK’s Lloyds Bank Issues Warning About Rise in Fraudulent Activities During Summer Holidays

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

UK’s Lloyds Bank Is Introducing Ready-Made Pension to Make Saving for Retirement Easier

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

UK’s Lloyds Banking Group Teams Up with Dynatrace, a Unified Observerability and Security Firm

Dynatrace (NYSE: DT), which claims to be among the leaders in unified observability and security, has recently announced that it is working with Lloyds Banking Group, which is reportedly one of the UK’s largest financial services providers, in order “to measure the environmental carbon impact… Read More

UK’s Lloyds Bank Enhances Support for Corporate Businesses Across the North West by Investing in Institutional Banking Team

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

Lloyds Bank Warns Consumers About Growing Threat of Crypto Scams

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

Lloyds Bank Develops Digital Trading Solution to Support UK Firms

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

Lloyds Bank Introduces Digital ID App with Yoti

Lloyds Bank has released a new Digital ID app with Yoti – Lloyds Bank Smart ID. The app reportedly gives people “a more private, secure and convenient way to prove their age or identity through their mobile phone.” This follows the £10 million investment Lloyds… Read More

UK’s LendInvest Acquires Funding from Lloyds Bank to Launch into Homeowner Mortgages

LendInvest (LSE: LINV), which claims to be the UK’s leading asset manager for property finance, announces increased funding from Lloyds Bank now totaling £300 million “to support its entry into the UK’s £1.2 trillion homeowner mortgage market.” LendInvest’s home owner mortgage product, “which beta launched… Read More

Lloyds Bank Carries Out Digital Promissory Note Purchase

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

Satago, a Provider of Invoice Financing, Teams Up with Sage, Lloyds Bank

Satago, a provider of invoice financing and Lending as a Service software solutions, has signed a LOI “to enter into a three-way partnership with Sage and Lloyds Bank.” The partnership will formalize plans “to create an embedded finance solution within Sage, the leader in accounting,… Read More

Nearly 1 Million UK Consumers Checked Credit Score in April, Lloyds Bank Reveals

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

Lloyds Bank Updates Alfa Software for Asset Finance

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

Over 1M Subscriptions Stopped by Consumers as Households Feel the “Squeeze,” Lloyds Bank Reveals

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

Lloyds Bank Signs Up its First Retailer for A2A Payments API in the UK

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

Lloyds Bank Commercial Banking to Use Mastercard Open Banking Merchant Payment Solution to Launch PayFrom Bank

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

Lloyds Bank to Shut Down 56 Branches, Cut 160 Jobs As Consumers Increasingly Using Digital Banking Services Following COVID-19 Outbreak

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

Qatar’s GDP Expected to Contract by 4.3% in 2020, but IMF Expects Recovery Next Year, Supported by Growing Fintech and Digital Economy

Qatar’s economy appears to be performing a lot better than other MENA region countries because it has launched many projects that have helped establish different types of businesses that generate significant revenue. Qatar has also managed to overcome the political tensions and has found new… Read More

Lloyds Bank to Acquire Minority Stake in Form3, a Cloud enabled Payments Technology Provider

Lloyds Bank, a British retail and commercial bank with branches across England and Wales with around £436 billion in assets, will be acquiring a minority stake in Form3, a cloud-powered payments technology provider. The acquisition is part of Lloyds’ plans to upgrade its legacy payments… Read More

Lloyds Bank Adds Subscription Management Service to App in Partnership with Minna Technologies, Visa

Lloyds Bank is in the process of incorporating a new subscription management service within its banking app, according to a release from the company. The new service will be provided in partnership with Minna Technologies and Visa. The subscription management service will enable users to… Read More

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