Corporate Banking Firm Fennech Receives £2m Investment From Lloyds

Lloyds, a high street bank in the UK, put £2 million into Fennech, an AI-based corporate banking tool for financial institutions and businesses.

Fennech’s platform acts as a bridge between businesses and the banking industry, giving customers access to a single, seamless platform that automates and manages their accounts, payments, funding, and liquidity across numerous banking partners.

The investment from Lloyds is a vote of confidence in Fennech’s technology and its potential to revolutionize the way businesses manage their finances. Fennech’s platform is already being used by a number of leading businesses, including Unilever, Sky, and Vodafone.

The investment from Lloyds will help Fennech to expand its product offering and reach new customers. The company plans to use the funding to develop new features for its platform, such as real-time cash flow forecasting and integrated risk management.

Fennech’s investment from Lloyds is a sign of the growing interest in AI-powered corporate banking platforms. As businesses increasingly adopt cloud-based technology, they are looking for ways to automate their financial processes and improve their efficiency. Fennech’s platform offers a solution that can help businesses to do just that.

The investment from Lloyds is a major coup for Fennech. It shows that Lloyds believes in the company’s technology and its potential to transform the way businesses manage their finances. With the backing of Lloyds, Fennech is well-positioned to become a leading player in the AI-powered corporate banking market.

Kirsty Rutter, director, fintech investments, Lloyds, says:

“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.”