Lloyds Bank ‘plans to take minority stake’ in Bink

Latest News

Lloyds Bank ‘plans to take minority stake’ in Bink

By Alexandra Leonards

5/1/2022

High Street lender Lloyds Bank reportedly has plans to buy a minority stake in British FinTech Bink.

Bink is a loyalty app that uses ‘smart tech’ to link regular payment cards to retail loyalty programmes that customers are with or want to join.

According to Sky News, the bank is close to spending millions on the UK-based platform.

It said that the partnership is expected to begin in the first six months of the year.

The company, established in 2015, partnered with Barclays in 2019.

The bank rolled out the service onto its full app and also took a minority stake in the firm – leading a £10 million funding round into the business.

FStech has reached out for comment from Lloyds.

Bink declined to comment.

Banking's GenAI evolution: Beyond the hype, building the future

In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Transforming document management into a strategic advantage for financial institutions

In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.

Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime

The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.

Achieving operational resilience in the financial sector: Navigating DORA with confidence

Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.