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On-line exchange rate service launched
A
Lloyds TSB product story
Edited by the Manufacturingtalk editorial team
Mar 17, 2008
An on-line exchange rate service to improve cash management in manufacturing gives real-time access to the best deposit and foreign exchange rates to save time and improve profits.
Lloyds TSB has launched an on-line service, which could benefit hundreds of UK businesses within the manufacturing sector by providing 'real time' access to some of the most competitive deposit and foreign exchange rates on the international markets.
Head of e-Solutions, Financial Market Sales, Lloyds TSB Corporate Markets, Helen Woolcomb, said: "Many businesses in the manufacturing sector don't take full advantage of the opportunities presented by foreign exchange and the money markets because traditional off-line solutions can be too time intensive and therefore get pushed to the bottom of the priority pile".
Despite the huge advances in on-line corporate banking services in recent years, Lloyds TSB's own research suggests that one in three businesses which could benefit are still missing out on e-trading opportunities.
The bank's new user friendly online service - called MarketsLink - is designed to encourage more finance departments to use their company's cash more efficiently and in the process potentially add thousands of pounds to the bottom line each year.
Lloyds TSB said that MarketsLink is the first online trading tool from a UK bank to feature the Reuters' Electronic Trading product (v3.3).
It has also become the first UK bank to offer an auto-rollover facility for money market trades on the system.
The MarketsLink platform will also allow Lloyds TSB to easily add new products and asset classes to the system giving customers a greater range of choice and opportunity to manage their spare cash profitably.
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