Lloyds Banking Group has partnered with Form4 to accelerate digital transformation.
In Brief:
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Form3 is a FinTech that offers cloud-native payments technology.
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It supports the industry New Payments Architecture initiative (NPA).
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Lloyds will now be able to develop a Payments-as-a-Service platform.
What does this mean?
The bank hopes to improve customer experience by making payments processes more efficient. It will also take a stake in Form3 as part of the deal.