Over a million subscriptions stopped by customers as households feel the squeeze

Over 1.2 million subscription payments have been stopped since summer 2021, as technology puts customers in further control of their spending, according to new data from Lloyds Bank. Popular TV, film and music streaming services made up almost half (47.1%) of regular payments cancelled, with households taking further stock of their discretionary spending, as the cost of living climbs. Marketplace subscriptions – where people buy or sell goods online – also got the chop, with 17.6% of cancellations, since June last year. Regular payments for weight management clubs and gym…

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Majority of Black business owners lack trust in banks to support their business goals

Financial institutions are failing the Black business community as less than half (43%) of Black entrepreneurs trust banks to have their best interests in mind. Findings are based on research from the Black Business Network sponsored by Lloyds Bank and undertaken by Savanta. More than 800 participants from Black communities in Britain completed the survey, the majority (65%) of which were female. The survey outlines a trust gap between the Black business community and two of the biggest institutions in the UK, banks and the government. While trust in banks…

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Sustainability is important to SMEs but 40% do not understand impact of net zero finds Lloyds Bank

Though the vast majority see sustainability as important, millions of the UK’s small businesses could be struggling to understand and meet the demands of achieving Net Zero goals, according to research by Lloyds Bank. The challenges of the last year have not dimmed the UK’s 6 million small businesses’ views of sustainability. Nine out of ten SMEs (91%) see sustainability as an important consideration, and almost half (45%) say that the COVID-19 pandemic has made them think more about its role in their business. Paul Gordon, Managing Director, SME &…

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New Lloyds Bank team to support clients’ sustainability ambitions

Lloyds Bank Commercial Banking has created a new team to support its corporate clients as they transition their businesses to become more sustainable. The team will specialise in structuring environmental, social and governance (ESG) products and services, helping corporates become more sustainable and supporting the UK’s road to net-zero. The team will be led by Jonas Persson, currently head of the sustainable and natural resources team in the bank’s Corporate & Institutional Coverage (CIC) division, which supports larger businesses. In his new role Jonas will report to Scott Barton, Managing…

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Lloyds Bank launches pioneering British Sign Language online translation tool

Lloyds Bank is the first UK organisation to offer pop up sign language videos to translate online text. The new service will provide easier access to essential financial information to break down some of the language barriers faced by Deaf customers. BSL is the first language for many Deaf people with its own grammar and syntax which means that written material is often not accessible. It is hoped that providing the online BSL videos will open up access to banking for deaf people and those with hearing impairments, giving them…

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