Finastra partners with Lloyds Bank to offer PCO Pay, successfully replacing outdated legacy system

Entered in: Business Banking

Finastra is a technology partner of Lloyds Banking Group, delivering Bacs and international payment services to them since 2015. Last year, Finastra migrated Lloyds’ clients from a legacy product to Pay and Collect Online, a white-label solution. While Lloyds’ clients were happy with the existing solution, it relied on dated technology (faxes, phone and post) to manage clients’ submissions. Lloyds’ clients increasingly desired digital and self-service offerings to manage their payments. This is where Finastra came in, successfully migrating more than 1,600 business banking customers to PCO Pay’s digital portal, with no payment disruption.

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