Funding comes from Lloyds Banking Group
IN BRIEF:
Fennech uses artificial intelligence (AI), machine learning and business rules with cloud-based technology, to automate businesses’ finance, treasury, and payments processes in real-time
Its platform acts as a bridge between businesses and the banking industry
The investment in Fennech is Lloyds Banking Group’s most recent strategic investment
What does this mean?
Kirsty Rutter, Director of Fintech Investment at Lloyds Banking Group said: “Our investment in Fennech forms part of our commitment to supporting the fintech ecosystem in the UK and expanding our client capabilities through the use of cutting-edge technology. Fennech’s approach to helping businesses simplify complex processes is incredibly innovative, and we’re excited about how their business and solutions will evolve to meet the needs of our corporate and institutional banking clients in the future.”
