Lloyds Bank has made a significant investment of £2 million in Fennech, an AI-driven corporate banking platform designed for financial institutions and corporate clients.
Fennech leverages artificial intelligence, machine learning, and advanced business rules integrated with cloud technology to automate financial processes, treasury management, and payment systems in real-time. This innovative platform serves as a conduit between businesses and the banking sector, providing users with access to a unified system that streamlines account management, payments, funding, and liquidity across various banking partners.
Kirsty Rutter, Director of Fintech Investments at Lloyds, commented, “Our investment in Fennech underscores our commitment to nurturing the fintech ecosystem in the UK while enhancing our clients’ capabilities through state-of-the-art technology. Fennech’s innovative approach to simplifying complex financial processes is remarkable, and we look forward to seeing how their solutions will evolve to address the needs of our corporate and institutional banking clients going forward.”