Case Study: Lloyds Bank achieves payments modernization and higher STP rates with Finastra Global PAYplus

Lloyds Bank boosts STP rates and modernizes payments with Finastra

Lloyds Bank, a leading UK retail and commercial bank, needed to modernize its payments infrastructure to keep pace with evolving technology, regulatory changes, and customer expectations. The bank aimed to scale its international payments business and adopt the new ISO 20022 standard. To achieve this, Lloyds partnered with vendor Finastra to transition from its legacy systems using the Finastra Global PAYplus solution for a more agile and scalable platform.

Finastra implemented a modernized payment solution that provided greater agility and a "zero customization" approach to simplify future upgrades. The partnership resulted in higher Straight Through Processing (STP) rates, increasing automation and operational efficiency. This transformation fortified Lloyds Bank's market position, allowing for a faster response to regulatory changes and enabling the delivery of a frictionless banking experience for its retail and corporate clients.

Lloyds Bank