Tagged: lloyds

October 31, 2023 @ 8:11 am By Omar Faridi  |  

Business confidence in the UK rose to 39% in October, “a three-point increase, to reach the second highest level in 2023–surpassed only in August (41%),” according to an update shared by Lloyds Banking Group. The confidence level this month is “significantly above the long-term average… 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

October 6, 2023 @ 6:54 am By Omar Faridi  |  

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

October 3, 2023 @ 11:44 pm By Omar Faridi  |  

Business confidence in the UK fell to 36% in September, “a five point dip from the 18-month high (41%) recorded in August, as companies saw a decline in both economic optimism and trading prospects for the year ahead.” This, according to an update shared by… 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

June 28, 2023 @ 8:41 am By Omar Faridi  |  

Fennech Financial, an innovator in the financial technology sector, is pleased to announce that it has successfully raised £2.3 million in its latest round of funding. The investment round was “led by Lloyds Banking Group, who contributed a substantial £2 million, alongside some high-profile individual… 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

October 20, 2022 @ 12:09 pm By Omar Faridi  |  

Lloyds Banking Group has introduced Innovation Sandbox in order “to accelerate its collaboration with Fintechs and improve the digital products and services it offers to customers.” Innovation Sandbox will reportedly “help the Group bring a variety of Fintech opportunities through the design and test cycle… Read More

October 17, 2022 @ 11:27 pm By Omar Faridi  |  

Developed by Lockton’s Emerging Asset Protection (LEAP) team in collaboration with global custody insurers, the facility is supported by Lloyd’s syndicates, together with “highly rated” insurance companies. This provides Lockton clients with policy wording and full access to London market capacity, estimated today “to be… Read More

October 6, 2022 @ 10:40 pm By Omar Faridi  |  

British teenagers say they go online for help “on everything from hair hacks to video game tips, with one in three (33%) preferring to seek advice on the web to avoid the ‘awkwardness’ of asking someone face to face.” The Lloyds Bank research – which… Read More

June 10, 2022 @ 7:45 am By Omar Faridi  |  

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

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

May 2, 2021 @ 3:27 pm By Omar Faridi  |  

The COVID-19 outbreak has led to nationwide lockdowns and other measures being taken to limit in-person contact in order to prevent the further spread of the virus. Many more individual consumers and businesses are conducting transactions online and are trying to avoid visiting physical locations…. Read More

April 29, 2021 @ 2:01 pm By Samantha Hurst  |  

    Apollo Insurance Solutions Ltd. (TSXV: APLO Reserved), a Canadian online insurance provider, announced on Thursday it has secured coverholder status with Lloyd’s of London. APOLLO reported that the status gives it access to an expanded product portfolio and the ability to manufacture products… Read More

April 16, 2021 @ 8:16 am By Omar Faridi  |  

Lloyd’s Lab has announced its sixth cohort with a special focus on “product simplification” and climate. Lloyd’s revealed on April 15, 2021 that the next eleven insurance technology (Insurtech) startups joining the sixth cohort of the Lloyd’s Lab innovation accelerator program will aim to develop… 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

April 12, 2020 @ 2:20 pm By Omar Faridi  |  

The Lloyds of London has reportedly chosen 12 promising, early-stage Insurtech firms to take part in its innovation accelerator program, called Lloyds Lab. The 12 insurance technology startups were chosen out of over 90 companies that had submitted applications, as they were interested in participating… Read More

March 13, 2020 @ 3:44 pm By Omar Faridi  |  

The overall demand for IT workers in the UK’s Fintech industry has been increasing steadily, despite the political and economic uncertainty in the country. There has been a 5.9% yearly growth in the number of financial technology jobs in the UK. This, according to the… Read More

November 16, 2017 @ 11:16 am By JD Alois  |  

Rainmaking Colab, created by the founders of Rainmaking and Startupbootcamp Fintech, are launching a new innovation program designed to help industry incumbents address real business problems. While recognizing the importance of Fintech startups, Rainmaking Colab seeks to aid more mature Fintech operations. Rainmaking Colab is supported… Read More

April 10, 2017 @ 1:41 pm By JD Alois  |  

Lloyds Banking Group launched a Fintech mentoring program last year. At that time, Innovate Finance helped to identify suitable start-ups to benefit from the program. The Fintech start-ups benefit from knowledge sharing of experienced Lloyds Banking Group colleagues to aid their development in the financial… Read More