Lloyds selects Bacs payment solution from D+H
DH Corporation (D+H) has onboarded UK’s Lloyds Banking Group for its white-labelled Bacs payment service.
Lloyds “sought to provide new payment services to enhance clients’ payables and receivables processes”, says D+H.
To begin with, Lloyds will offer the vendor’s Bacs capabilities to SMEs and mid-market clients, but D+H hopes this will be subsequently scaled up to corporate customers and global transaction banking.
According to D+H, “the solution will provide the bank’s clients with direct debit and direct credit connectivity, automated retrieval of Bacs messages, a full service direct debit management suite, integration with clients’ ERP systems, and ease-of-use with minimal training required”.
Lloyds anticipates that the new offering will “unlock opportunities that could not previously be pursued”.