LLOYDS BANKING GROUP SELECTS CASH MANAGEMENT AND PAYMENTS PLATFORM FROM SAP TO PROVIDE MARKET-LEADING DELIVERY TO CLIENTS

  • In-memory technology of SAP HANA® delivers real-time view of cash positions
  • “API-first platform” offers unique opportunities to embrace the benefits of open banking
  • New features provide seamless connectivity across the core digital platform

SAP SE (NYSE: SAP) today announced that Lloyds Banking Group will boost its payment capabilities and provide unmatched delivery to corporate and institutional clients with a cash management and payments platform from SAP, powered by SAP HANA®. By bringing new digitalized functionalities to its commercial portfolio, Lloyds will offer clients seamless self-service with increased performance efficiency and operational productivity. SAP® technology will furnish Lloyds with a real-time banking platform to meet the complex business requirements of large commercial banks, non-bank financial institutions and corporate while also providing cost savings and enriched customer experience to clients. The announcement was made at Sibos 2017, being held October 16–19 in Toronto, Canada.

With a commitment to delivering the future of innovation in banking, Lloyds is making this investment to support its existing and prospective clients in embracing the opportunities emerging through open banking. Through its digital core, which provides advanced real-time data analytics as well as open architecture, SAP technology enables Lloyds to redefine experiences for corporate and institutional clients. Now, complex transactions can be completed faster, liquidity can be managed more efficiently and productivity can be increased through additional insight into operations.

“The need for corporate banks to provide their clients with a seamless user experience as well as a high level of self-service becomes more and more imminent,” said Rob Hetherington, global head of Financial Services Industries at SAP. “Banks must provide not only first-class product functionality but also ease of consumption through open application programming interfaces (APIs) as well as being flexible to meet customer expectations. By supplying real-time cash management, payments and analytics capabilities coupled with an API-based architecture, SAP is committed to helping corporate banks, like Lloyds, harness innovation to deliver unparalleled experiences.”

Selecting SAP technology follows Lloyds’s decision to improve its trade finance, invoice finance and client monies platforms. By expanding its comprehensive payment and channel capabilities, Lloyds not only addresses client needs for quick, secure and reliable payments but also acquires the agility needed to adapt to future changes.

 Stay Updated To Save Money & Time. Join Our Free Newsletter 
. Indepth Analysis & Opinion       . Interviews      . Exclusive Reports  
. Free Digital Magazines      News & updates      . Event Invitations 
                     
& Much More Delivered To Your Inbox For Free.
Submit
We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.

 

From the core banking offering from SAP, Lloyds will use the SAP Deposits Management and SAP Payment Engine applications and the SAP Omnichannel Banking solution, all powered by SAP HANA. This will enable Lloyds to offer clients a wide range of digital self-service tools for cash management and payments. The in-memory technology of SAP HANA allows both corporate and institutional clients to access these features with advanced real-time analytics capabilities. Through the modular and flexible SAP platform, Lloyds expects to gain a competitive advantage with greater business agility and lower total cost of ownership.

 Stay Updated To Save Money & Time. Join Our Free Newsletter 
. Indepth Analysis & Opinion       . Interviews      . Exclusive Reports  
. Free Digital Magazines      News & updates      . Event Invitations 
                     
& Much More Delivered To Your Inbox For Free.
Submit
We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.

 
Close
Stay Updated To Save Money & Time. Join Our Free Newsletter. 
. Indepth Analysis & Opinion       Interviews          . Exclusive Reports 
. Free Digital Magazines        . News & updates        . Event Invitations
& Much More Delivered To Your Inbox For Free. 
Submit
We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.
 
Close