TruFin Enters Into Commercial Pilot With Lloyds for Potential Five-Year Deal
11 December 2020 - 7:14PM
Dow Jones News
By Sabela Ojea
TruFin PLC said Friday that its subsidiary Satago Financial
Solutions Ltd. has entered into a commercial pilot with Lloyds
Banking Group PLC to license Satago's software platform to provide
the bank's customers with single invoice finance solutions.
The U.K. holding company--which operates companies that are
niche lenders and early-payment providers--said the commercial
pilot is expected to run for up to six months. If successful, the
pilot would turn into a five-year commercial agreement.
"Should the pilot develop into a five-year commercial agreement
with Lloyds Bank, this is expected to have a materially positive
impact on the financial expectations of Satago and, as a result,
the company," TruFin added.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 11, 2020 02:59 ET (07:59 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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