Lloyds Bank combines commercial cards and bill finance teams
Lloyds Bank Business & Commercial Banking has consolidated its Commercial Cards and Bill Finance teams under a new senior appointment.
James Sykes will take on the role of Head of Bill Finance Products for Corporate and Corporate Banking, while retaining his current role of Head of Commercial Cards.
The Bill Finance and Commercial Card product teams will be united under his leadership, opening up new opportunities for cross-team collaboration, product innovation and growth.
In his new role, James will be responsible for delivering Lloyds Bank’s full range of commercial card and bill finance products – ranging from traditional card services to cutting-edge virtual solutions, and factoring and lending. discount on a single book to a whole book.
James has led the commercial cards team at Lloyds Bank since 2017. Prior to joining Lloyds Bank in 2013, he was head of Barclaycard’s large corporate commercial card sales division UK.
James Sykes, Head of Commercial Cards and Bill Finance Products, Lloyds Bank Business & Commercial Banking, said: “The combination of these two teams will make it easier than ever to share the expertise and innovation we have. within our teams to deliver cutting-edge, cutting-edge solutions for our customers.
“We are relentlessly focused on innovation. As our customers’ needs evolve, we want to be ahead of the game – to have solutions ready that make the financing they need faster, easier and more convenient to access.
Chris Loring, Managing Director, Loans and Working Capital, Lloyds Bank Business & Commercial Banking, added: “James’ appointment demonstrates our intention to grow and strengthen our card and bill finance offerings to meet the increased needs of our customers in this area.
“James has a strong track record, with a particular focus on delivering exceptional results for his clients. It’s an exciting time for our team and I look forward to working with James as we continue to develop new market-leading propositions that help clients better manage their working capital and ultimately to boost their growth.
In March, Lloyds Bank announced a new partnership with fintech Satago to provide the first end-to-end digital solution for single invoice financing and full invoice factoring on a single platform offered by any UK bank. . To reflect the strengthened partnership, Lloyds Banking Group invested £5m in Satago in exchange for a 20% stake.
Meanwhile, in October, it announced a new partnership with Billhop to unlock innovative new services for commercial banking customers.
This includes a solution that allows businesses to make card payments to any vendor – even those that don’t already accept them.