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Lloyds Bank partners Sage for invoice financing

By Hannah McGrath

Enterprise software giant Sage is launching a three-way partnership with Lloyds Bank and Satago for instant invoice financing.

The tie up will offer Sage customers access to finance on the basis of unpaid invoices with the aim of improving cashflow.

Technology from Satago will connect Sage customers with Lloyds Bank for instant financing, which Sage says will be available regardless of payment terms.

The service will be available to Sage’s customer- mostly SMEs in the UK- from the fourth quarter of 2022.

The enterprise software firm also announced that the launch of a collaboration with ADP for Payroll solutions.

Announcing the move at Sage’s Partner Summit, Aziz Benmalek, president at Sage North America, said: “What the past two years have taught us is that there is no turning back on digitalisation.

“The partnerships we have announced today with Lloyds Bank plc, Satago, and specifically ADP offer our resellers the opportunity to put enterprise-grade solutions into the hands of SMB customers.”

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