Lloyds Bank invests in payments platform technology from Finastra
Real-time payments platform will enable bank to enhance cross-border capabilities and drive growth
London, UK, and Toronto, Canada, 16 October 2017 – Today at Sibos 2017 Lloyds Bank announced the implementation of its market leading payments platform, powered by Finastra.
Finastra has a long history of working with Lloyds Bank, with the organization already benefitting from its corporate banking, payments and capital markets technology. Now the bank is investing in Global PAYPlus to better support its customers in this arena.
The new real-time functionality will offer an enhanced customer experience for clients and transform cross-border payment capability, providing safe, accessible, transparent and timely international payments, with the ability to address future change with agility. Part of the bank’s ‘API-first’ platform, the technology will help support end customers in embracing the opportunities emerging through open banking.
Nadeem Syed, CEO at Finastra, said, “The implementation of our payments solutions at Lloyds Bank signals an exciting extension of our longstanding relationship. The move enables us to support the bank’s ‘API-first’ strategy and drive for business growth. It is the first step towards a centralized payment hub at the bank, including international and domestic payments. As financial organizations increasingly embrace the move to open API and the agility benefits it can deliver, we are well placed to support the journey with our open platform approach to transformation.”
Following the combination of Misys and D+H, Finastra provides best-of-breed payments solutions that enable financial institutions and their customers to manage cash, process payments, exchange information and transfer funds cost-effectively, securely and reliably.
Financial institutions can release new products faster than the competition, without code changes; improve customer service by capturing all payment data, across all customer segments, in a centralized location; and enhance the customer experience via an API-enabled unified processing model across multiple channels, legacy payment systems, and core banking environments. The result is simplified operational overhead and lower transaction processing costs, contributing to healthier payments business margins.
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Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology.
Please visit www.finastra.com.
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