Lloyds Bank is tolling out The Open Account Platform in partnership with Demica.
In Brief:
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The platform offers supplier finance and receivables purchase to business customers.
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Users will be able to access key information and automate transactions through a dashboard.
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Demica provides working capital solutions for large organisations.
What does this mean?
The roll-out by Lloyds marks use of Decima’s white label solution, and the FinTech calls it an “important milestone”.
For Lloyds, its business customers will be able to streamline their process with their suppliers so those SMEs they work with are better supported.
