Lloyds Bank Commercial Banking has launched two new products to support its financial institution clients, and in turn, their clients, to be more efficient, manage risks and help them prosper.

Immediate Payments for UK and Corporate Referrals have been launched with Financial Institutions and their customers in mind.

With industry developments allowing clients to move money instantaneously, Immediate Payments for UK, allows clients to send  payments from outside the UK to UK beneficiaries utilising Faster Payments technology.

This low-cost and fast solution enables clients to make safe, secure and compliant payments with realtime confirmation messages and optional debit advices.

Immediate Payments for UK is designed for recurring supplier or remittance payments up to the value of £100,000. Using established SWIFT infrastructure it is able to securely transmit payments to UK and international standards.

Lloyds Bank has also re-launched its Corporate Referrals product, which allows financial institutions to access its UK-based solutions for their clients that want to seek opportunities in the UK .

With businesses from around the world seeing the UK as an attractive investment destination, Lloyds is able to use its extensive domestic network to provide a full set of products and services as well as a specialist relationship team to support the business’s growth ambitions.

Adrian Walker, managing director of Lloyds Bank Global Transaction Banking, said: “We’re delighted to be expanding our offering in this sector and hope to be able to support our clients and their customers to better manage their finances, enabling them to focus on growing and developing their businesses.

“Following direct feedback from our clients and our extensive insight in the sector, we’ve been able to design our products with clients in mind to help them and their customers to prosper.”

Ed Thurman, Managing Director & Head of Financial Institutions, Lloyds Bank Commercial Banking said: “As a leading global financial centre, it’s important that our clients can make quick and secure payments in the UK. These new products will enable financial institutions to be more efficient and help them manage their risks in today’s domestic and global, markets.”