Lloyds Bank ‘plans to take minority stake’ in Bink

High Street lender Lloyds Bank reportedly has plans to buy a minority stake in British FinTech Bink.

Bink is a loyalty app that uses ‘smart tech’ to link regular payment cards to retail loyalty programmes that customers are with or want to join.

According to Sky News, the bank is close to spending millions on the UK-based platform.

It said that the partnership is expected to begin in the first six months of the year.

The company, established in 2015, partnered with Barclays in 2019.

The bank rolled out the service onto its full app and also took a minority stake in the firm – leading a £10 million funding round into the business.

FStech has reached out for comment from Lloyds.

Bink declined to comment.

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