Lloyds Bank Business & Commercial Banking has combined its commercial card and invoice finance teams under a new senior appointment, the lender said in a statement.

James Sykes will serve as the business and commercial banking’s head of invoice finance products while retaining his current position as head of commercial cards.

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The invoice finance product and commercial card teams will be brought together under his leadership, unlocking new opportunities for cross-team collaboration, product innovation and growth. 

In his new role, Sykes will be responsible for Lloyds Bank’s full range of commercial card and invoice finance products – ranging from traditional card services to cutting-edge virtual solutions and single to whole-book factoring and discounting.

Sykes has led Lloyds Bank’s commercial cards team since 2017. Prior to joining Lloyds Bank in 2013, he was head of Barclaycard’s UK-wide large corporate commercial card sales division.

Chris Loring, managing director, lending and working capital, Lloyds Bank Business & Commercial Banking, said: “James’ appointment demonstrates our intent to grow and strengthen our card and invoice finance propositions to respond to increased needs from our clients in this space.

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“James has a strong track record, with a particular focus on delivering exceptional client outcomes. It is an exciting time for our team and I’m looking forward to working with James, as we continue to develop new, market-leading propositions that help clients better manage their working capital and, ultimately, turbocharge their growth.”

In March, Lloyds Bank announced a new partnership with fintech Satago to deliver the first end-to-end digital single invoice finance and whole-book invoice factoring solution on a single platform offered by any UK bank. To reflect the strengthening of the partnership, Lloyds Banking Group invested £5m in Satago in exchange for a 20% equity stake.

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