If the testing period is successful, then Lloyds may offer a 5-year commercial contract to the financial services firm. Satago is an invoice finance, debt chasing, and risk insight platform that intends to help businesses get paid on time. The company is an accredited partner with players in the accountancy and cloud accounting software sectors.
As part of the testing phase, Lloyds Bank will be providing financing to Satago’s customer base by utilising the firm’s digital cashflow management and invoice financing system. Satago will receive a recurring fee for each client of the bank that utilises the technology.
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