<em><span style="color: #4bbb87;"><a style="color: #4bbb87;" href="https://www.innovatefinance.com/company/lloyds-banking-group/">Lloyds Banking Group</a></span> has invested €3 million in technology company Enigio to expand its use of digital documentation in trade.</em>

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The €3 million investment will allow Enigio to expand its bespoke solution, <i data-stringify-type="italic">trace:original</i>, which removes the need to physically transfer paper documentation within trade transactions.

Lloyds Banking Group led Enigio’s latest funding round, with existing investors Stockhorn Capital and MOOR Holding also participating in the raise totalling ca. €6 million.

The investment will enable Enigio to continue to grow and provide businesses with a faster, more affordable and secure way to digitise physical original documents, for example, promissory notes, bills of exchange, and bills of lading.

This is the latest strategic investment made by the Group’s <a class="c-link c-link--underline" href="https://www.lloydsbankinggroup.com/who-we-are/working-with-suppliers/investing-in-fintechs.html" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.lloydsbankinggroup.com/who-we-are/working-with-suppliers/investing-in-fintechs.html" data-sk="tooltip_parent"><span style="text-decoration: underline; color: #4bbb87;"><strong>Fintech Investment team</strong></span></a>.
This year has seen a continued focus by the team on identifying and investing in businesses that can drive strategic growth for Lloyds Banking Group and also provide technology solutions for customers and clients.Since 2019, Enigio has been working to revolutionise the digitalisation of trade and other documents with its <i data-stringify-type="italic">trace:original</i> solution. Today, around 4 billion trade documents are in transit around the world on any given day and less than 1% of those documents are digital<a class="c-link c-link--underline" href="https://mail.google.com/mail/u/0/#m_3827148326882376187__ftn1" target="_blank" rel="noopener noreferrer" data-stringify-link="https://mail.google.com/mail/u/0/#m_3827148326882376187__ftn1" data-sk="tooltip_parent"><span style="color: #4bbb87;">[1]</span></a>. Through this investment, Enigio will aim to grow usage of their legally compliant, digital equivalent of an original paper document<i data-stringify-type="italic">, trace:original</i>, across the trade ecosystem.

<span style="color: #4bbb87;"><b data-stringify-type="bold">Kirsty </b><b data-stringify-type="bold">Rutter, Director of Fintech Investment at Lloyds Banking Group said:</b></span>
<blockquote>“I am excited to announce our investment in Enigio - the latest of many that continue our strategic growth and ambition in the fintech sector. Our belief in Enigio’s innovative technology and potential drives our commitment to help them become the standard solution in digital, authoritative, and original documentation for industries worldwide. We are really looking forward to working with them more closely, and seeing how else this partnership can benefit Lloyds Banking Group clients.”</blockquote>
<span style="color: #4bbb87;"><b data-stringify-type="bold">Gwynne Master, Managing Director, Lending and Working Capital, Lloyds Bank said</b>: </span>
<blockquote>“Lloyds Bank has worked closely with Enigio for a number of years. We’re proud of what we have achieved together, from the UK’s first Digital Promissory Note, to our digitisation work to streamline trade processes for our clients. This investment in Enigio is the latest significant milestone in our partnership. As we head into an exciting time for the trade industry, with the UK Electronic Trade Documents Act round the corner, we look forward to being at the forefront of future innovation with Enigio and helping businesses unlock the benefits of digital trade.”</blockquote>
<span style="color: #4bbb87;"><b data-stringify-type="bold">Torgny Gunnarsson, Enigio’s Chairman of the Board added:</b></span>
<blockquote>"With Lloyds Banking Group's investment in Enigio, we are welcoming a strategic investor who, alongside our existing major investors, Stockhorn Capital and MOOR Holding, will enable Enigio to accelerate the market penetration of <i data-stringify-type="italic">trace:original</i>, with the ambition to become the global technology of choice for digital original and freely transferable documents. We are very much looking forward to working closely with Lloyds Banking Group on our exciting journey ahead.”</blockquote>
<b data-stringify-type="bold"><span style="color: #4bbb87;">Patrik Zekkar, CEO of Enigio, said:</span> </b>
<blockquote>"I’m very pleased to strengthen the partnership with a key industry player like Lloyds Banking Group. This will further strengthen Enigio’s capabilities and capacity to deliver a market leading solution for electronic trade documents more broadly, in a time of transition of trade driven by the cross-market demand and supported by regulatory changes. We look forward to delivering on the massive opportunity in efficiency, sustainability, accessibility and much more for, and in collaboration with, the industry by digitising trade."
<b data-stringify-type="bold"></b></blockquote>
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<p style="text-align: center;"><em><b data-stringify-type="bold">-ENDS-</b></em></p>
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<b data-stringify-type="bold">About Lloyds Banking Group</b>

Lloyds Banking Group is the largest UK retail and commercial financial services provider with around 26 million customers and a presence in nearly every community. Our main business activities include retail and commercial banking, general insurance, and long-term savings, provided through well recognised brands including Lloyds Bank, Halifax, Bank of Scotland, Scottish Widows.Our purpose is Helping Britain Prosper. We have served Britain through our products and services for more than 320 years, across every community, and millions of households. Our success is interwoven with the UK's prosperity, and we aim to Help Britain Prosper by operating as a responsible, sustainable, and inclusive Group.

<b data-stringify-type="bold">About Lloyds Bank’s support for businesses</b>

Lloyds Bank provides comprehensive expert financial services for businesses of all sizes, from start-ups, SMEs and mid-sized corporates all the way to large multinational corporations and financial institutions. It has over one million UK business customers.With a network of relationship teams across the UK, Lloyds Bank delivers the mix of local understanding and sector expertise necessary to provide long-term support to its clients.Lloyds Bank offers broad range of financial support beyond term lending and this spans, working capital and cash management services and solutions, international treasury and risk management services, trade import and export trade finance, structured and asset finance, securitisation facilities and capital market funding.
<b data-stringify-type="bold"></b>
<b data-stringify-type="bold">About Enigio</b>

Enigio is a tech company offering solutions to ensure consistency, integrity, traceability, and possession of digital information making data available only to those who should have access to it while protecting it from manipulation.Freely transferable digital original documents is at the core of what Enigio does and the trace:original solution can be used for multiple types of commercial documents required in global trade.

For more information visit <a class="c-link c-link--underline" href="http://www.enigio.com/" target="_blank" rel="noopener noreferrer" data-stringify-link="http://www.enigio.com" data-sk="tooltip_parent"><span style="text-decoration: underline; color: #4bbb87;"><strong>www.enigio.com</strong></span></a>

Lloyds Banking Group invests €3 million in Enigio to accelerate use of digital documentation in trade

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<p class="p-rich_text_section"><b data-stringify-type="bold">17 July 2023</b></p>
<img class="wp-image-385337 alignright" src="https://www.innovatefinance.com/wp-content/uploads/2023/07/lloyds-mobile-banking-181x300.png" alt="" width="152" height="252" />

🐎 First UK bank to host an end-to-end car leasing experience through its mobile app.
🐎 New offering allows 11 million eligible personal current account customers to choose, customise and lease their next new car.

<span style="color: #4bbb87;"><a style="color: #4bbb87;" href="https://www.lloydsbankinggroup.com/"><span style="text-decoration: underline;"><strong>Lloyds Banking Group</strong></span></a></span> has launched its latest mobile banking innovation, which allows Lloyds Bank, Halifax and Bank of Scotland personal customers to a lease a car fully online through its specialist Lex Autolease brand.
<p class="p-rich_text_section">Customers can research and review options that fit their budget, choose a customised leasing option, and check financial eligibility before finalising the contract.</p>
<p class="p-rich_text_section">Over 4,000 new models are available to choose from, including 16% electric vehicles and 27% hybrid.</p>

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<div class="p-rich_text_section"><strong>Nick Williams, Transport Managing Director, Lloyds Banking Group, said:</strong></div>
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<blockquote>
<div class="p-rich_text_section">“Our new online car leasing journey demonstrates how we are responding to customers’ desire for more control and flexibility in managing their money. It’s also the latest example of how we are delivering on our broader sustainability commitments. By offering a wide range of lower emissions vehicles, we are working towards removing barriers to accessibility and affordability of usership.”</div></blockquote>
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<div class="p-rich_text_section">Lloyds Banking Group is the only UK financial services provider that enables customers to manage all their banking and pension needs in one place via its apps.</div>
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<div class="p-rich_text_section">The new offering is available now.</div>

Lloyds Banking Group customers are first to lease a car from their mobile banking app

<p>We are a financial services group with millions of UK customers with a presence in nearly every community; we are familiar on the high street and with over 1 million businesses through our portfolio of brands. The Group has a unique customer proposition enabling us to serve the financial needs of our customers in one place, and we operate multiple brands through three core divisions; Retail, Commercial Banking, and Insurance and Wealth. We thrive based on how well we serve our customers; on our relationships within the communities we serve; and on Helping Britain Prosper.</p>


Lloyds Banking Group

We are a financial services group with millions of UK customers with a presence in nearly every community; we are familiar on the high street and with over 1 million businesses through our portfolio of brands. The Group has a unique customer proposition enabling us to serve the financial needs of our customers in one place, and we operate multiple brands through three core divisions; Retail, Commercial Banking, and Insurance and Wealth. We thrive based on how well we serve our customers; on our relationships within the communities we serve; and on Helping Britain Prosper.

Managing Director, Group CIO, Lloyds Banking Group

John Chambers

Head of Innovation, Group Transformation, Lloyds Banking Group

<p>Philip is passionate about helping organisations explore, interpret and adapt to their changing industry landscape. Over the past ten years he has pursued this interest within Financial Services, helping Lloyds Banking Group transform itself in response to an array of technological, competitive and regulatory changes. He is currently Head of Innovation, leading a team that is focused on developing future business models, enabling fintech partnering and investigating emerging technologies for Lloyds.</p>


Phil Garner

Managing Director, Payments, Global Transaction Banking, Lloyds Bank

<p>Steve Everett is the Managing Director of Payments, Global Transaction Banking at Lloyds Bank, with end-to-end responsibility for the payments business including relationship &amp; sales management, financial performance, product management &amp; development and meeting client needs. Steve is accountable for the development of LBG’s Payments profile and future business strategy, whilst supporting the Group to ‘Help Britain Prosper’.</p>
<p>Steve’s previous role in LBG was Managing Director of Product &amp; Propositions, Global Transaction Banking for which he was responsible for the product management and development in Cash Management &amp; Payments, Trade &amp; Supply Chain Finance and Asset &amp; Invoice Finance areas. Prior to joining LBG in 2014, Steve spent 15 years with RBS performing senior leadership roles spanning global transactions services (GTS), financial markets and corporate banking and leading key strategic programmes which have transformed businesses.</p>
